A prominent cryptocurrency investor secured approximately $2.14 million in profits by closing a leveraged long position in Dogecoin (DOGE) before swiftly re-entering the market with a new long position within hours.
The whale exited the leveraged trade to capture substantial gains, then established a fresh bullish bet on the meme coin approximately 10 hours later, demonstrating continued confidence in Dogecoin’s potential price appreciation. This rapid repositioning suggests the large holder anticipates further upward momentum for DOGE despite recent profit-taking.
Market analysts interpret this activity as a strategic move reflecting persistent bullish sentiment among major DOGE stakeholders. Such whale movements provide valuable insights into high-conviction market behavior, potentially indicating broader expectation shifts for the cryptocurrency.