In the wild world of crypto, keeping an eye on big players—or "whales"—can give you a serious edge, especially if you're into meme tokens that often ride the waves of major coins like Bitcoin and Ethereum. Recently, the on-chain sleuths at LookOnChain spotlighted some intriguing moves by a legendary trader known as BitcoinOG, or 1011short. This Satoshi-era whale, meaning someone who's been holding Bitcoin since the early days of its creator Satoshi Nakamoto, just deposited another $20 million in USDC to Hyperliquid, a decentralized perpetual futures exchange.

For those new to the lingo, USDC is a stablecoin pegged to the US dollar, making it a safe way to move value without the volatility of other cryptos. Hyperliquid is a platform where traders can open leveraged positions on assets like BTC and ETH without expiration dates—think of it as betting on price directions with amplified gains (or losses).

According to the tweet from LookOnChain, this deposit is fueling BitcoinOG's ongoing long positions on BTC and ETH. A "long" position means they're betting the prices will go up. Here's a quick breakdown of their current setup:

• 600 BTC (valued at about $60.9 million)

  • Entry price: $104,785.9
  • Liquidation price: $43,160.57 (if BTC drops here, the position gets auto-closed to prevent further losses)

• 13,000 ETH (valued at about $43 million)

  • Entry price: $3,444.81
  • Liquidation price: $593.38

This isn't BitcoinOG's first rodeo. Known as a shorting veteran—someone who profits from price drops—this whale has been flipping to bullish lately. Just a day earlier, LookOnChain noted that these positions were already showing over $2.7 million in losses amid a market dip. The tweet cheekily added, "Turns out when there's no insider info… the magic stops working." This hints at past suspicions of insider trading, where the trader seemed to have an uncanny knack for perfect timing.

But why should meme token enthusiasts care? Meme coins like Dogecoin, Shiba Inu, or newer ones often mirror the movements of BTC and ETH. If a major whale like BitcoinOG is doubling down on longs despite short-term pain, it could signal confidence in a rebound. On the flip side, if these positions get liquidated (forced sell-off due to price drops), it might trigger broader selling pressure, dragging meme tokens down too.

Over the past few weeks, BitcoinOG has been active: depositing thousands of BTC to exchanges like Kraken, Binance, and Coinbase, totaling around $1.48 billion since October 1, 2025. This could be profit-taking from their early holdings or repositioning for bigger plays. For blockchain practitioners, tools like LookOnChain are gold—they track wallet addresses (like 0xb31 for this whale) and reveal patterns that can inform your own strategies.

In a market where BTC recently dipped below $100,000 for the first time in months, moves like this add to the intrigue. Is BitcoinOG onto something big, or is this a high-risk gamble? As always in crypto, do your own research—whale watching is insightful, but markets can flip fast.

Stay tuned to Meme Insider for more on how these big-league plays ripple into the meme token space, helping you level up your blockchain knowledge.