The Whale That Closed Its 10x Long Position on Dogecoin Yesterday Has Reopened It!

A large whale investor in Dogecoin (DOGE) has made smart moves to achieve a total profit of over $3.7 million in just two days.

A notable transaction occurred in the volatile meme coin Dogecoin ($DOGE ). According to data shared by Lookonchain, one of the large whale accounts, 0x6adb, closed its position at the peak of the DOGE price yesterday, realizing a profit of exactly $2.14 million. After this move, which demonstrates a keen understanding of the market, the whale re-entered a massive position, continuing to benefit from the increase in the DOGE price.

The whale took action again 10 hours ago, opening a 10x long position with exactly 84.08 million DOGE (worth $21.24 million). Currently, it has generated approximately $1.64 million more in profit from this move.

Whales Are Directing the Market

The recent increase in volatility in meme coins has drawn investors' attention to these large whales. Especially, the trades of these whales that take high-leverage positions in futures can have significant impacts on short-term market movements. This situation has become an indicator that small investors are also closely monitoring.

The future moves of whale 0x6adb will continue to be closely watched by Dogecoin investors.