Whale Bets $2M on Dogecoin: Is a DOGE Rally Incoming?

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Smart Crypto Whale Loads Up On <a href="https://pricpr.com/doge-usd/">Dogecoin</a> With $2 Million Long <a href="https://bbg-news.com/posi">Position</a>

A successful crypto trader known as a “smart whale” has made a new bet on Dogecoin, using leverage. This trader, who has profited $24.79 million overall, is also heavily invested in Bitcoin and Ethereum, according to data from Lookonchain. This move is noteworthy because of the trader’s proven track record.

A trader made significant moves across several cryptocurrencies within three hours, according to Lookonchain. They opened long positions in Ethereum, Bitcoin, and Dogecoin. The Dogecoin trade involved 19.47 million tokens, valued at approximately $2.04 million, but their trades in Ethereum and Bitcoin were much larger in terms of total dollar value.

Dogecoin Draws $2 Million Long From ‘Smart Whale’

A profitable trader, known as Smart Whale 0x152e and having earned $24.79 million, is betting on the price of ETH, BTC, and DOGE increasing. According to Lookonchain, over the last three hours, this trader opened positions to buy 4,601 ETH worth $9.82 million, 118.2 BTC worth $9.11 million, and 19.47 million DOGE worth $2.04 million. They’ve also set up orders to buy more BTC and ETH at specific prices.

This trading activity indicates the investor isn’t just betting on Dogecoin alone. It looks like Dogecoin is part of a larger strategy to profit from rising prices in major cryptocurrencies like Ethereum and Bitcoin. The biggest investment was in Ethereum, worth $9.82 million, closely followed by Bitcoin at $9.11 million. While the Dogecoin investment of over $2 million was smaller, it still represents a significant leveraged bet on the memecoin.

Beyond the initial trades, the whale also placed limit orders to buy more Bitcoin and Ethereum, suggesting they’re gradually increasing their investment instead of putting in all their funds at once. It’s unclear if they did the same with Dogecoin.

In addition to recently established long-term positions, this trader’s digital wallet contains significant holdings of Zcash and the HYPE token from Hyperliquid. According to Lookonchain, the wallet holds 10,797 ZEC, currently worth around $6.14 million, resulting in a profit of $3.5 million. It also contains 114,547 HYPE, valued at $5.48 million, with a potential profit of $2.2 million.

These current holdings help explain why this crypto investor is considered a “smart whale.” According to Lookonchain, this wallet isn’t just showing profits from previous sales; it also holds millions of dollars worth of cryptocurrencies that have increased in value but haven’t been sold yet. This new investment in DOGE comes from an address that has already proven successful with other investments.

Tracking large cryptocurrency holders (whales) isn’t perfect. While we can see what a wallet is doing on the blockchain, it doesn’t reveal their complete financial picture – things like other investments, risk management strategies, holdings outside of the blockchain, or how long they plan to hold onto their assets. For example, a large purchase of Dogecoin from a successful wallet might get noticed, but it doesn’t necessarily mean overall demand for DOGE is increasing.

At press time, DOGE traded at $0.10429.

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2026-05-19 18:12