A cryptocurrency trader tracked by Lookonchain has opened a fresh leveraged long position in Dogecoin, adding exposure to DOGE along with larger bets on Bitcoin and Ethereum. The move is significant because the wallet marked 0x152e is described by an on-chain analytics account as a “smart whale” with a total gain of $24.79 million.
According to Lookonchaintrader moved aggressively across major crypto assets during the three-hour window, opening long positions on Ethereum, Bitcoin and Dogecoin. DOGE’s position was 19.47 million tokens worth approximately $2.04 million, while Ethereum and Bitcoin transactions were much larger in dollar terms.
Dogecoin Receives $2 Million from ‘Smart Whale’
“The clever whale 0x152e, with a total profit of USD 24.79 million, is long on ETH, BTC and DOGE,” wrote Lookonchain on continue to add your long positions in BTC and ETH.”
The positioning suggests that a trader does not make a single bet on memecoin in isolation. DOGE appears to be part of a broader directional long setup involving higher liquidity crypto assets led by Ethereum and Bitcoin. The $9.82 million Ethereum position was the largest of the three long positions disclosed, closely followed by the $9.11 million Bitcoin position. Dogecoin had the least fresh futures exposure, but was still a significant leveraged bet on memecoin worth over $2 million.
Additional limit orders are also essential. Lookonchain said the whale placed orders to continue adding long positions on Bitcoin and Ethereum, indicating that a trader could scale the position rather than treating the initial entries as a full allocation. The post did not say whether similar add-on orders have been placed for Dogecoin.
In addition to the fresh perpetual positions, there are also significant spot positions in the HYPE token Zcash and Hyperliquid in the same portfolio. Lookonchain said the trader holds 10,797 ZEC worth approximately $6.14 million and has an unrealized profit of $3.5 million. The portfolio also includes 114,547 HYPE worth $5.48 million, with an unrealized gain of $2.2 million.
These spots add context to the “smart whale” label. The portfolio not only shows realized or total profit, as Lookonchain intends, but is also based on multi-million-dollar unrealized profits on separate spot positions. The fresh DOGE long therefore comes from an address that has already built up profitable exposure elsewhere in the market.
Still, whale tracking has its limitations. On-chain position data may show what a portfolio is doing, but not the investor’s full risk book, collateral, off-chain exposure, or planned holding period. A vast Dogecoin, long with a profitable portfolio may attract attention, but in itself it does not confirm a market-wide shift in demand for DOGE.
At press time, DOGE was trading at $0.10429.
Featured image created with DALL.E, chart from TradingView.com
