Whale’s $21M Leveraged Bet on DOGE Signals Strong Bullish Momentum
In a bold move underscoring growing confidence in Dogecoin's upward trajectory, a crypto whale has placed a $21.24 million Leveraged bet on DOGE using 10x leverage. The trader, identified by wallet address "0x6adb," opened a position on 84.08 million DOGE at an entry price of $0.233. With Dogecoin currently trading at $0.242 as of July 20, 2025, the position is already profitable by approximately $1.64 million. This high-stakes wager highlights the increasing bullish sentiment surrounding the meme-inspired cryptocurrency, which has been gaining momentum in recent weeks. The whale's aggressive leverage strategy suggests expectations of significant near-term price appreciation, potentially driven by broader market optimism or upcoming developments in the Dogecoin ecosystem. This isn't the first time this investor has made substantial bets on DOGE, indicating a pattern of conviction in the asset's long-term potential. The substantial position size and use of leverage could create additional volatility in DOGE markets, as such large positions often influence trader psychology and market dynamics. As Dogecoin continues to demonstrate resilience and attract both retail and institutional interest, this whale's move serves as a notable indicator of the growing risk appetite in the crypto markets.
Whale Bets $21M on Dogecoin With 10x Leverage Amid Rising Market Momentum
A crypto whale has made a bold $21.24 million leveraged bet on Dogecoin, signaling strong bullish sentiment. The trader, identified by wallet address "0x6adb," used 10x leverage to open a position on 84.08 million DOGE at an entry point of $0.233. With Dogecoin currently trading at $0.242, the position is already profitable by approximately $1.64 million.
This isn't the whale's first high-stakes dogecoin play. On-chain data reveals a previous long position was exited near the top, netting a $2.14 million profit. Dogecoin has shown impressive momentum since mid-July, rallying four consecutive days and briefly touching $0.257 before a minor pullback. The meme coin is up 53% in Q3, breaking a six-year bearish trend.
The market watches closely as large leveraged positions often precede significant price movements. This trade underscores growing institutional interest in meme coins, traditionally dismissed as speculative assets.
DOGE Bullish Pattern Signals Potential Rally to $0.42
Dogecoin (DOGE) surged 17% last week amid a broader altcoin rally, contributing to a $4 trillion crypto market cap. The meme coin now faces critical resistance at $0.25, a level that could determine its near-term trajectory.
Analyst Ali Martinez identifies a double-bottom pattern on DOGE's daily chart, suggesting an 82% upside potential. The W-shaped formation—with troughs at $0.13-$0.15 in April and June, separated by a May peak at $0.25—typically precedes bullish reversals. Current price action NEAR $0.24 completes the pattern's right shoulder.
A confirmed breakout above the neckline could propel Doge toward $0.42, though failure to sustain momentum may trigger profit-taking. The pattern's validity hinges on Bitcoin's market stability and sustained retail interest in meme coins.
Dogecoin's Bullish Breakout Sparks Rally Speculation
Dogecoin has surged past a critical technical threshold, confirming a double bottom breakout at $0.24 and reaching $0.2525 amid heightened whale activity. The meme coin's chart pattern suggests a potential rally toward $0.42 if bullish momentum holds.
Whales accumulated 1.08 billion DOGE within 48 hours—one of the most aggressive buying sprees this year. Such demand from large holders often precedes significant price movements, though elevated MVRV and NVT ratios near $0.30 resistance warrant caution.
Social media buzz and trading volume reinforce the uptrend, but sustainability hinges on broader market conditions. The coming sessions will test whether DOGE can transform technical promise into a sustained macro reversal.
