A crypto whale opened a $2.14 million leveraged long on Dogecoin at $0.137621, using 10x leverage on Hyperliquid. The position sits near liquidation as DOGE struggles to break resistance levels. The trader bought over 15.6 million DOGE tokens using 10x leverage.
The position carries a notional value of $2.14 million with an entry price of $0.137621 per token. Current data shows an unrealized loss of $8,331 as Dogecoin trades at $0.1374. The move signals a dramatic shift in strategy for the wallet that previously dumped significant Bitcoin holdings.
The Dogecoin long represents just one element of a broader trading strategy. The same whale simultaneously opened a 5x leveraged short position on DASH, a privacy-focused cryptocurrency. This dual approach suggests the trader expects divergent performance across different altcoin sectors.
The whale’s total portfolio shows substantial exposure across major cryptocurrencies. Ethereum positions account for $232.4 million in value. Bitcoin holdings reach $146.9 million despite the previous December sale.
Solana exposure sits at $69.7 million. All three positions maintain long exposure. Total active perpetual positions now equal $457 million.
The overall leverage ratio stands at 11.35x across the entire portfolio. Current unrealized losses total $3.31 million portfolio-wide. The timing of this Dogecoin bet raises questions.
The meme coin has struggled to reclaim its December peak of $0.15209. A brief price surge failed to sustain momentum. The past week brought volatility without a clear directional breakout. Funding rates currently sit in negative territory.
Dogecoin faces resistance at key technical levels. The 10x leverage creates significant risk parameters. Small price movements will generate outsized profits or losses. The liquidation price sits at $0.12309, leaving minimal downside room.
The entry point stands roughly 12% above the liquidation threshold. This narrow margin contradicts typical conservative risk management. The position size and leverage suggest strong conviction rather than cautious speculation. The whale appears to anticipate a sharp reversal in altcoin market sentiment.
Leave a Reply