High-profile leverage trader James Wynn is back in the spotlight after another forced liquidation, this time on a Dogecoin position — yet he insists the worst of the crypto downturn is behind us.
Blockchain data from Onchain Lens shows Wynn lost roughly $22,600 on a 10x leveraged Dogecoin long earlier this week. The figure is minor compared to his previous wipeouts, including a $100 million Bitcoin position liquidated in late May when BTC briefly slipped to $105,000.
Market Makers in the Crosshairs
Wynn has repeatedly blamed what he calls a market maker “cabal” for targeting his trades. In a post on X, he claimed that recent long liquidations across major tokens were engineered by large players to flush leverage out of the system. Paradoxically, he sees that as a bullish signal.
“Timeline bearish and calling for the bear market. Time to go max long,” he wrote after his latest loss.
A Costly Streak
Data from Hyperdash shows Wynn’s tracked wallet has racked up more than $21 million in realized losses since March. His trading history is littered with massive positions — some as large as $100 million in Bitcoin — that were quickly unwound by sudden market swings. In June, another $25 million disappeared after just two days in a high-leverage BTC trade.
Frustration With Memecoins
Wynn’s biggest outbursts have been directed at memecoins, where he has accused insiders of predatory behavior. He argues that coordinated pump-and-dump schemes routinely wipe out retail traders and whales alike.
“Give them supply and they just dump on your head,” Wynn raged in a recent post, vowing to launch his own memecoins with “zero allocation” for key opinion leaders.
Earlier this summer, he lost more than $1 million on a leveraged Pepe trade, adding to his growing list of setbacks in the memecoin arena.
Betting on a Rebound
Despite his string of liquidations, Wynn maintains a contrarian view: that the latest flush-out of leveraged longs marks the end of the correction and the start of a renewed rally. Whether that conviction proves correct—or simply leads to another liquidation—remains to be seen.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/millionaire-trader-james-wynn-liquidated-on-dogecoin-bet-now-says-market-bottom-is-in/