Dogecoin Whale Bets $2.25M With 10x Leverage as Big Wallets Hoard Record 108B DOGE

"A new wallet placed a 10x leveraged long on 20 million DOGE worth $2.25M on May 16, per Lookonchain. The $0.10284 liquidation price leaves under 10% margin from current dogecoin spot price near $0.1086. DOGE whale holdings hit record levels in May 2026, even as price consolidates below $0.12."

"A 10x leveraged position amplifies profits and losses by a factor of ten such that if DOGE rises 10%, the trader earns the equivalent of a 100% return on capital. If it falls 9%, the position is wiped out entirely. The 10x long position on 20M DOGE ($2.25M) opened a newly created wallet address."

"Whale holdings in DOGE reached record levels in May 2026, with large addresses accumulating aggressively even as price remained range-bound. According to data cited from Santiment, large wallets now hold a record 108.52 billion DOGE, with 149 addresses holding at least 100 million DOGE each. The network also saw 739 transfers worth more than $100,000 in a 24-hour span, the highest level in six months."

"The concentrated leverage positioning creates a feedback loop where a dogecoin rally amplifies upward pressure as long positions compound gains. But a break below $0.10284 would force out this position, and any clustered longs nearby, adding a wave of selling pressure at a technically significant level."

A newly created wallet opened a 10x leveraged long on 20 million DOGE worth about $2.25M on May 16. The liquidation price sits at $0.10284, leaving less than 10% margin versus a DOGE spot price near $0.1086. The position aligns with rising whale accumulation, with large wallets reaching record holdings in May 2026. Large addresses hold 108.52 billion DOGE, and 149 addresses hold at least 100 million DOGE each. Network activity also increased, with 739 transfers above $100,000 in 24 hours. DOGE derivatives open interest rose in early May, with leveraged longs dominating. Concentrated leverage can amplify rallies, while a drop below liquidation can trigger forced selling.

Read at news.bitcoin.com