A whale wallet famous for dumping 255 BTC back in December has just flipped the switch. This time, they are going long on Dogecoin with over 15.6 million DOGE, using 10x leverage.
According to Hyperliquid trading data, the position totals $2.14 million in notional value, already sitting on an $8,331 unrealized loss, with the entry marked at $0.137621 per DOGE.
This Dogecoin long is not the whale’s only new play as it was accompanied with a 5x short position on privacy coin DASH at the same time. The rest of the portfolio is mostly focused on Ethereum worth $232.4 million, Bitcoin worth $146.9 million and Solana worth $69.7 million — and yes, these all are long exposure.
The total active perpetual value is now at $457 million, with the leverage ratio at around 11.35x and a floating portfolio-wide drawdown of $3.31 million.
No room for error
The move into Dogecoin comes at a time when the meme coin is struggling to reclaim its December high of $0.15209. The price of DOGE had a brief surge, but has since dropped to $0.13721, basically making it a volatile week with no clear breakout.
With the funding being negative and DOGE not being able to break through the resistance, the timing of this new long position is pretty aggressive — maybe the anonymous whale is aiming for a reversal in the altcoin market in general.
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This is not a low-leverage test bet. At 10x, even small price changes will quickly liquidate or amplify gains. The liquidity for the DOGE position is marked at $0.12309, leaving a narrow margin for error. So, the long was opened with conviction.
Dogecoin may be quiet now, but this whale’s bet suggests fireworks are expected — and soon.
Source: https://u.today/mysterious-bitcoin-whale-becomes-dogecoin-bull-with-15662887-doge-long