On-chain analytics firm Lookonchain has identified a series of large leveraged long positions being opened by cryptocurrency whales on NEAR Protocol, Chainlink (LINK), and Dogecoin (DOGE), indicating heightened bullish conviction among well-capitalized traders. The combined exposure across these positions exceeds $20 million, with many utilizing aggressive 10x leverage.
One address, beginning with 0x7be1, executed a $6.45 million 10x leveraged long on approximately 2.34 million NEAR tokens over a ten-hour period. The same wallet placed a limit buy order for an additional 813,000 NEAR ($2 million) at a price target of $2.46, signaling a willingness to accumulate on dips. This activity was first flagged in a May 26 report.
A separate address (0x3109) holds a 10x leveraged long of 27.38 million DOGE (≈$2.75 million) and a 10x long on 162,670 LINK (≈$1.53 million), with pending limit orders for another 33.46 million DOGE ($3.31M) and 515,120 LINK ($4.73M). Yet another whale (0x5687) has opened a more conservative 3x leveraged long on 10.21 million DOGE ($1.03M) alongside a 10x long on 108,430 LINK ($1.02M), plus pending orders for an additional 14.66 million DOGE ($1.45M) and 336,280 LINK ($3.09M).
The use of 10x leverage means these positions face liquidation if the respective assets drop by roughly 10% from entry levels. Despite the risk, the clustering of such bets across multiple wallets suggests a coordinated or broadly shared thesis that NEAR, LINK, and DOGE are poised for near-term appreciation. NEAR has been consolidating between $2.40 and $2.80, while LINK benefits from ongoing DeFi adoption and DOGE continues to ride retail-driven volatility.
Market observers caution that whale activity, while informative, does not guarantee outcomes—large players can hedge or reposition quickly. The forced liquidation of such positions could also trigger sudden price swings, amplifying volatility for these altcoins.
