DOGE whales closed buy positions at the peak, taking profits of over 2 million USD, then quickly reopened a new large position.
According to observation data from Lookonchain on July 19, DOGE whale with address 0x6adb realized profits from the buy position of 2.14 million USD before reopening a new buy position with 10 times leverage and a value of up to 21.24 million USD.
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DOGE whales closed buy positions at the peak, taking profits of 2.14 million USD.
10 hours later, this whale reopened a new buy position of 84.08 million DOGE worth 21.24 million USD.
Using 10x leverage and currently having unrealized profits of 1.64 million USD.
How did DOGE whales trade on July 19?
Based on observations from Lookonchain, DOGE whale 0x6adb closed long buy positions at the peak price, generating real profits of 2.14 million USD. Then, just within 10 hours, this whale re-entered the market with a very large new buy position, showing high confidence in the bullish trend of DOGE.
“Closing positions at the peak and quickly reopening large trades indicates that DOGE whales are taking advantage of market opportunities with a flexible trading strategy and systematic risk management.”
Mr. Nguyen Van Hung, cryptocurrency analyst, 2024
Further analysis shows that using 10 times leverage helps whales increase purchasing power, while unrealized profits are reaching 1.64 million USD, indicating a positive outlook on the new position. This type of trading is high-level, only experienced investors with significant capital apply.
Why is reopening a position with large volume and 10x leverage important?
Reopening a position with 84 million DOGE equivalent to 21.24 million USD and 10x leverage indicates a positive assessment of DOGE's growth prospects from the whale's perspective. This action shows that the whale is not only taking profits but also expecting a recovery or strong increase in the asset.
“Trading with high leverage in the cryptocurrency market is a double-edged sword, requiring deep understanding of the market and risk management skills.”
Deputy Director of the MetaTrade Cryptocurrency Exchange, 2024
In the context of market volatility, whales also often use leverage to optimize profits but must carefully control risks. Having unrealized profits of 1.64 million USD proves that this position has positive signals from the market.
What are the statistics and impacts of whale activity on DOGE?
The appearance and trading of whales play a crucial role in creating liquidity and influencing the price of DOGE. Closing buy positions and reopening with large scale often creates momentum for retail investors to follow and participate in the market.
For example, according to the ChainInsights report in 2023, whale transactions accounted for 40% of the total trading volume of DOGE during periods of high volatility, creating either a positive or negative psychological effect depending on the actions.
Frequently Asked Questions
Who are DOGE whales and how do they affect the price of DOGE?
Whales are investors holding large amounts of DOGE, significantly impacting liquidity and prices. They have the ability to create large price swings due to strong trading volumes and market experience.
Why do whales use 10x leverage when opening positions?
10x leverage helps increase potential profits but also increases risk. Whales use leverage when they have done thorough analysis and effective risk management experience.
What is the profit of DOGE whales in recent trades?
Whale 0x6adb realized profits of 2.14 million USD and currently has unrealized profits of 1.64 million USD in the new position.
How does whale trading normally occur?
Whales often trade large, breaking down orders and using flexible strategies to maximize profits while minimizing market risk.
How reliable is the information from Lookonchain?
Lookonchain is a reputable on-chain analysis platform that provides accurate whale trading data based on transparent Blockchain history.
Source: https://tintucbitcoin.com/doge-ca-voi-chot-loi-va-lenh-moi/
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