A prominent crypto whale has placed a massive leveraged bet on Dogecoin (DOGE), drawing attention from investors and traders alike. According to blockchain analytics platform Lookonchain, the wallet address “0x6adb” opened a 10x leveraged long position on 84.08 million DOGE — worth approximately $21.24 million at the time of the trade.
This aggressive move suggests strong bullish sentiment and confidence in the meme-inspired cryptocurrency. Leveraged trades of this scale are typically made by experienced players with access to deep liquidity and a sharp eye for market timing.
The trader behind this address isn’t new to high-stakes DOGE plays. On-chain data reveals they previously exited a long DOGE position near the top, securing a $2.14 million profit. Their current entry point is reportedly $0.233, which remains below the current market price of $0.242, meaning the position is already in profit — about $1.64 million unrealized at the latest update.
Dogecoin has shown upward momentum since July 15, rallying four consecutive days and briefly hitting $0.257. Although it’s down 3.4% in the past 24 hours due to short-term profit-taking, DOGE remains up significantly in Q3, breaking out of a six-year ultra-bearish trend with a 53% gain.
The market is now closely watching the whale’s next move, especially given their successful track record. This high-profile leveraged bet has further fueled speculation about Dogecoin’s short-term trajectory, reinforcing its status as a key altcoin to watch in the current crypto market cycle.
As retail and institutional interest in meme coins continues to grow, DOGE’s price action and whale activity may offer valuable insights for traders seeking momentum opportunities in the volatile crypto landscape.
