Renowned crypto trader James Wynn shifts focus to PEPE after closing two Bitcoin positions at a combined $27.9 million loss

James Wynn has turned his focus to PEPE after closing two prominent Bitcoin positions at a combined $27.9 million loss.

Renowned crypto trader James Wynn has turned his attention to PEPE following the closure of two prominent Bitcoin positions that resulted in a combined loss of $27.9 million.

Known for his bold, leveraged trades, Wynn used the Hyperliquid platform to open a 10x long position on PEPE on Friday. The move comes amid renewed momentum in the memecoin market and broader crypto sentiment.

Wynn’s Bitcoin Bets Result in $27.9M Loss

Earlier this year, Wynn took out a $1.26 billion long position on Bitcoin at 40x leverage, which he planned to close at $105,179 or let run to $108,921. Bitcoin dropped to $107,746, forcing Wynn to close at a $13.4 million loss.

The trader narrowly avoided liquidation, which would have triggered at $105,179. However, he managed to close the position and open another one.

Within hours, Wynn switched to a bearish stance and opened a $1 billion short on 9,402 BTC with 40x leverage, aiming for a price decrease to $106,089 or a rebound to $107,179.

This position also failed as Bitcoin held steady around $107,000, leading to another loss of $15 million. Both trades left Wynn with a deficit of $27,908,962.20 in just 21 hours.

He attributed his Bitcoin outlook to weak volume and macroeconomic tensions, including a new 50% tariff proposal. However, Bitcoin’s resilience countered his expectations, leading to back-to-back exits.

Despite this, Wynn resumed trading with a fresh $75 million long at 40x leverage, which remains active.

Wynn Opens 10x Long on PEPE Amid Recovery Signs

Shifting strategy, Wynn entered PEPE with a high-leverage long position on Friday. The trader bought 1,388,696,014 KPEPE at a price of $0.014086 per token for a total position of $19,010,000.

The position is currently up $434,867.01 in unrealized profit. Earlier in the day, Lookonchain reported that the position was only $130,000 in profit.

I feel safe in $pepe 🐸 💚

nfa. dyor. pic.twitter.com/d7p3lAV6Zx

— James Wynn 🐳 (@JamesWynnReal) May 26, 2025

PEPE is now trading at $0.014404, aiming for a key resistance of $0.000017. If it breaks through, analysts are anticipating a continuation toward $0.000021. This level reflects a 40% potential increase from the current price.

The memecoin has experienced a 90% surge this month after breaking its consolidation on May 8. It remains above both the 20 EMA and 50 SMA, which signals continued bullish momentum. These indicators provide strong technical support that may help sustain further upward price movement.

PEPE Aligns With Wynn’s Memecoin Strategy

Wynn’s history with memecoins includes major wins on PEPE, Fartcoin, and Trump tokens. His 2023 PEPE trade saw him turn $7,000 into $25 million, cementing his reputation as a high-stakes memecoin trader. He is also backing his own token, Moonpig, which has soared 3000% in three weeks.

His current PEPE trade marks another calculated entry into a surging asset with increasing interest. Technical signals and volume activity support the bullish case, aligning with his past trading behavior. As PEPE trends higher, Wynn appears to be positioning for another potential breakout.