James Wynn Wiped Out on 10x DOGE Bet, Plans to ‘Go Max Long’

Millionaire leverage trader James Wynn has once again been liquidated on a high-stakes memecoin position, but he remains defiant, predicting that the market downturn is nearing its end.

Liquidation on Dogecoin Position

According to blockchain analytics platform Onchain Lens, Wynn lost $22,627 after his latest 10x leveraged long on Dogecoin was wiped out. Despite the setback, Wynn characterized the loss as minor compared to earlier trades, including a massive $100 million Bitcoin position that was liquidated on May 30 when BTC briefly slipped to a 10-day low of $105,000.

In a post on X, Wynn accused a “cabal” of market makers of deliberately targeting leveraged traders. He suggested that such liquidations might actually signal the end of the current correction, writing: “Timeline bearish and calling for the bear market. Time to go max long.”

A Series of High-Risk Bets

The recent Dogecoin liquidation adds to a string of high-risk trades that have gone against Wynn. Since March 19, data from Hyperdash shows he has realized losses totaling $21.7 million on a single account trading through wallet 0x5078 on the decentralized exchange Hyperliquid.

Earlier this summer, on June 5, Wynn lost nearly $25 million after his $100 million Bitcoin long was liquidated just two days after opening it. He later alleged that orchestrated efforts by major players in the market were deliberately set up to force his positions underwater.

Wynn’s War Against the “Memecoin Cabal”

Frustrated with repeated liquidations, Wynn has turned his ire toward what he calls the “memecoin cabal,” accusing them of predatory tactics such as pump-and-dump schemes and exploitative liquidity practices.

“Fuck the memecoin cabal, you give them supply and they just dump on your head. They’re thieving scavengers,” he posted over the weekend, adding that he plans to launch his own memecoins where key opinion leaders (KOLs) receive no allocations.

Wynn has also suffered losses on other memecoin bets this year, including over $1 million on a leveraged Pepe trade valued at $11.2 million when he opened it in July. Despite the setbacks, he continues to position himself for aggressive trades, insisting the downturn is about to give way to the next major rally.