Dogecoin Whale Makes Bold $2.25M Bet with High Leverage
- A new wallet placed a 10x leveraged long on 20 million DOGE worth $2.25M on May 16.
- The liquidation price of $0.10284 leaves under a 10% margin from the current dogecoin spot price near $0.1086.
- DOGE whale holdings hit record levels in May, with large addresses holding a total of over 108 billion DOGE.
- 149 addresses now hold at least 100 million DOGE each, indicating significant accumulation.
- The network recorded its highest level of transfers worth more than $100,000 in six months, with a total of 739 transactions.
A newly created wallet has made a high-stakes bet by placing a leveraged long position on dogecoin, reflecting increased whale activity and significant accumulation within the network. This move comes amid rising open interest in dogecoin derivatives and concentrated leverage positioning.
The substantial leveraged position highlights the growing confidence among large holders despite dogecoin’s price consolidation within the $0.10 to $0.12 range for April and May (Source )
