Cryptocurrency traders tracked by Lookonchain have opened new leveraged long positions in Dogecoin, adding DOGE exposure along with larger Bitcoin and Ethereum bets. The move is significant as the wallet, identified as 0x152e, is described by on-chain analytics accounts as a “smart whale” with total profits of $24.79 million.
According to Lookonchain, the trader was active in major crypto assets during the three-hour window, opening long in Ethereum, Bitcoin, and Dogecoin. DOGE's positions totaled 19.47 million tokens, worth approximately $2.04 million, while Ethereum and Bitcoin transactions were significantly larger in dollar terms.
Dogecoin raises $2 million from “Smart Whale”
“Smart Whale 0x152e, with a total profit of $24.79 million, is long on ETH, BTC, and DOGE,” Lookonchain wrote on X. “In the past three hours, he opened longs on 4,601 ETH ($9.82 million), 1,182 BTC ($9.11 million), and 19.47 million DOGE ($2.04 million). He also placed limit orders that continue to add to his BTC and ETH longs.”
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This positioning suggests that traders are not betting on a single meme coin alone. DOGE appears to be part of a longer-term setup with broader direction across highly liquid crypto assets, led by Ethereum and Bitcoin. The Ethereum position worth $9.82 million was the largest of the three disclosed longs, closely followed by the Bitcoin position worth $9.11 million. Although Dogecoin had the smallest new futures exposure, it still resulted in a notable leveraged bet of more than $2 million against the memecoin.
Additional limit orders are also important. Lookonchain said the whale placed orders to continually add longs in Bitcoin and Ethereum, indicating that traders may be expanding their positions rather than treating the initial entry as a full allocation. The post does not mention whether similar additional orders have been placed for Dogecoin.
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Beyond the new permanent position, the same wallet also holds significant spot positions in Zcash and Hyperliquid’s HYPE token. According to Lookonchain, this trader holds 10,797 ZEC worth approximately $6.14 million, with an unrealized gain of $3.5 million. This wallet also contains 114,547 HYPE worth $5.48 million, with an unrealized gain of $2.2 million.
These spot holdings add context to the “smart whale” label. According to Lookonchain's framework, wallets are not only showing realized or total profits, but also millions of dollars in unrealized gains across individual spot positions. Therefore, new DOGE longs are coming from addresses that have already built profitable exposure elsewhere in the market.
Still, tracking whales has its limits. While on-chain position data can show what a wallet is doing, it cannot show a trader's complete risk book, hedges, off-chain exposure, or intended holding period. While large Dogecoin longs from profitable wallets may attract attention, they do not in and of themselves confirm a change in market-wide demand for Dogecoin.
At the time of writing, DOGE was trading at $0.10429.
Featured image created with DALL.E, chart on TradingView.com
