James Wynn’s painful comeback: PEPE Long reopens and faces another brutal liquidation

After a total liquidation, James Wynn reopened a 10x PEPE long, only to be confronted with another defeat a few hours later.

Highly leveraged pseudonymous crypto trader James Wynn has achieved widespread fame for his volatile fortune, repeatedly making and losing hundreds of millions through leveraged bets on perpetual crypto futures markets.

Market chaos appears to have hit him again as Wynn’s new PEPE bet collapses within hours, continuing a brutal series of crypto liquidations.

Risky PEPE bet ends in more liquidations

In its latest tweet, on-chain analytics platform Lookonchain reported that Wynn underwent a full liquidation during the recent market dip, which also partially liquidated fellow trader “Machi Big Brother,” who has now lost more than $53 million on Hyperliquid in the past month.

Despite the setback, Wynn reopened a 10x long position on meme token PEPE shortly afterwards, but was partially liquidated again less than six hours later. The rapid succession of losses comes amid turbulent market conditions and a massive drop in the prices of both top crypto assets and meme coins.

After the third liquidation, Lookonchain tweeted:

“Again! Both James Wynn and Machi Big Brother were liquidated in the last market crash! These two are like brothers in arms: they never give up their longs, yet they always get wiped out.”

Controversy over insider activities

Blockchain analytics firm Bubblemap recently revealed that YEPE, Wynn’s meme coin venture, may be following a familiar and disturbing pattern. Once credited with turning a modest $7,000 PEPE bet into millions, Wynn’s trading history has come under renewed scrutiny for possible insider activity. According to Bubblemap’s analysis, nearly 60% of YEPE’s supply is concentrated among insiders, many of whom operate wallets funded through the same centralized exchanges such as LBank, KuCoin, and MEXC. This looked like a coordinated accumulation effort.

The report further claimed that the merchant’s coin promotions typically involve influencer-driven hype cycles and are designed to attract retail demand while insiders quietly lose their holdings.

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While Wynn remains one of crypto’s most controversial figures and has faced accusations of manipulation, he continues to receive public support from major industry players. Critics warn that such support could normalize insider-dominated markets and allow manufactured momentum to masquerade as organic community growth.