James Wynn’s PEPE Long Position Shrinks by 90% After Predicting $69 Billion Market Cap

On January 12, according to Hyperinsight monitoring, prominent trader James Wynn (0x507) once again closed his leveraged PEPE long positions, using 10x leverage. His total holdings have shrunk from $2.45 million a week ago to around $240,000, a reduction of over 90%. Meanwhile, the funds in his account have dropped from $800,000 to approximately $35,000.

Position Details

• 25x ETH Long: Position value of $680,000, with a floating loss of $150,000 (-116%), average price at $3,252, and liquidation price at $3,110.
• 10x PEPE Long: Position value of $2.45 million, with a floating loss of $450,000 (-73%), average price at $0.0062, and liquidation price at $0.0057.

On January 8, James Wynn faced 12 liquidations, with his holdings repeatedly halved. His cumulative loss for the week has now reached $640,000.

Back on January 1, Wynn publicly claimed that PEPE's market cap would surpass $69 billion by 2026 and pledged to delete his social media accounts if that target wasn’t met. As of now, PEPE's market cap is approximately $2.4 billion.