Crypto Whale James Wynn Suffers BTC Loss, Turns to PEPE for Recovery

2025-05-30

James Wynn, the high-stakes crypto trader often referred to as a “mega whale,” is back in the spotlight but not for reasons he might have hoped. After a massive $1.25 billion long position on Bitcoin turned against him, Wynn has redirected his focus to the volatile but promising world of meme coins. His latest play? PEPE the iconic frog-themed cryptocurrency that has long dominated meme token culture.

As Wynn looks to recover from substantial Bitcoin losses, his sudden pivot to PEPE is sparking speculation, excitement, and a major uptick in trading volume.

James Wynn Opens $19.38 Million PEPE Position

James Wynn’s decision to go long on PEPE wasn’t just bold, it was monumental. On-chain data shows that Wynn withdrew $28 million in USDC before opening multiple PEPE positions totaling approximately $19.38 million.

With an average entry price of $0.0139 and a 10x leverage strategy, Wynn’s PEPE trade has already yielded $200,000 in profits within hours.

This move came on the heels of a disastrous BTC long position, which at one point saw Wynn’s portfolio swing from an $87 million unrealized profit to nearly total losses. Despite this dramatic turn of events, Wynn’s appetite for risk remains insatiable.

Why James Wynn Is Betting Big on PEPE

James Wynn is no stranger to meme coins. In fact, his past successes with tokens like Trump and Fartcoin have made him a legend in the high-stakes crypto trading community. Wynn previously earned $4.8 million from Fartcoin and $6.8 million from Trump.

Notably, he turned a $182,000 investment in PEPE into nearly $34 million in gains, reinforcing his credibility as a meme coin strategist.

Wynn’s recent interest in PEPE is well-timed. On May 8, the coin broke out of a long-term consolidation pattern, leading to a staggering 90% price surge. Technical indicators show PEPE holding above both the 20 EMA and the 50 SMA, suggesting bullish momentum.

Analysts believe the coin could next target the $0.000017 level, representing a 20% potential increase, with a further resistance zone around $0.000020–$0.000021.

PEPE Price and Volume Explode Amidst Short Squeeze

Wynn’s aggressive move into PEPE appears to have triggered a market-wide reaction. On Binance, PEPE trading activity has reached new highs, with more than 23% of the token's volume occurring on the exchange.

According to CoinGlass, PEPE’s 24-hour trading volume has increased by 38% to reach $2.53 billion. Simultaneously, open interest surged 10.52%, now standing at over $591.9 million.

This surge coincides with a broader short squeeze, as many traders were heavily shorting PEPE prior to Wynn’s entry. With his large-scale investment, Wynn may have unintentionally or strategically forced many shorts to close, fueling the price rally further.

James Wynn’s Wild Ride with Bitcoin

Earlier this month, James Wynn placed a $390 million long on Bitcoin with 40x leverage. As Bitcoin surged above $110,000, Wynn’s position ballooned to an $87 million unrealized profit. However, when geopolitical tensions flared following Donald Trump’s threats of 50% tariffs on the EU, Bitcoin’s price sharply retraced.

Wynn attempted to hedge by shorting 1,038 BTC at $107,711. Despite closing that short with a $25 million profit, Wynn soon found himself nearly liquidated. At one point, he was down $8 million in unrealized losses and was only $400 from total liquidation.

Rather than backing out, Wynn doubled down. He added $250 million more to his BTC long, signaling an unwavering belief in Bitcoin’s long-term prospects. This conviction-based strategy stunned many in the crypto space and ignited both admiration and criticism.

Betting Against Wynn: A New Challenger Emerges

While Wynn was making headlines, another trader known only as 0x2258 quietly profited by taking the opposite side of his trades. In a series of well-timed entries and exits, this mysterious trader made $5.6 million in just three days by shorting BTC when Wynn went long and vice versa.

Some speculated that 0x2258 might be Wynn himself using a secondary account to hedge positions, but Wynn firmly denied the rumors, stating that he only trades from a single, public Hyperliquid account.

From $87M to Zero: A Painful Crash

According to blockchain analytics firm Lookonchain, it took Wynn 70 days to grow his BTC trading portfolio from zero to over $87 million in profits. Unfortunately, it took just five days to wipe almost all of it out. This dramatic fall underscores the brutal nature of high-leverage trading in crypto markets.

Even with his setbacks, Wynn’s reputation remains intact among many in the crypto community. Some admire his fearlessness, while others view his trading as reckless. Either way, his impact is undeniable.

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The Future of PEPE and James Wynn

Wynn’s renewed focus on PEPE raises intriguing questions: Is this a calculated attempt to ride the next meme coin wave, or a desperate move to recoup lost capital? With PEPE’s technical indicators pointing to continued bullish momentum and trading volume at record highs, the odds may be in his favor.

Still, PEPE remains a highly volatile asset, and Wynn’s use of 10x leverage means the margin for error is razor-thin. Should the token breach resistance at $0.000017, momentum could drive it toward the $0.000020 mark, bringing Wynn’s position deeper into profit.

Final Thoughts

James Wynn’s transition from a massive BTC position to a high-leverage bet on PEPE underscores a broader trend in crypto: the growing influence of meme coins in serious trading portfolios. For retail traders and institutional players alike, Wynn’s moves are a case study in risk, timing, and psychological resilience.

If Wynn’s PEPE bet succeeds, it could reinforce meme coins as viable trading assets in speculative portfolios. If it fails, it will serve as another cautionary tale in crypto’s wild frontier.

As always, investors should conduct their own research and consider risk tolerance before following in the footsteps of whales like James Wynn. One thing is certain—where Wynn goes, the crypto world watches closely.

FAQ

Q: Who is James Wynn in the crypto world?
A: James Wynn is a prominent crypto whale known for his high-leverage and high-volume trades in assets like Bitcoin and meme coins such as PEPE, Trump, and Fartcoin.

Q: What happened to James Wynn’s Bitcoin position?
A: Wynn opened a $1.25 billion long BTC position with 40x leverage, reaching $87M in unrealized profit. A market retracement erased nearly all gains within five days.

Q: Why did James Wynn turn to PEPE?
A: Following his BTC loss, Wynn reentered the market with a $19.38 million long on PEPE. Given PEPE’s bullish technical setup, he’s betting on another meme coin rally.

Q: How has PEPE reacted to Wynn’s trade?
A: PEPE volume surged by 38%, reaching $2.53 billion. The price appears poised for a breakout toward the $0.000017–$0.000020 resistance range.

Q: Should traders follow James Wynn’s lead?
A: While Wynn’s moves offer insight into whale behavior, traders should perform independent analysis and manage risk effectively. His strategies involve high leverage and extreme volatility.

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