James Wynn wiped on 10x DOGE bet, as he prepares to ‘go max long’

Crypto trader James Wynn has suffered a major setback after a leveraged Dogecoin position collapsed during a sharp market pullback. The trader was liquidated on a 10× long bet, losing more than twenty thousand dollars as DOGE failed to deliver the breakout he anticipated.

The liquidation happened during a period of heightened volatility in the memecoin market. Prices swung quickly across major tokens, leaving highly leveraged positions exposed to rapid drawdowns. Wynn reacted by accusing large market players of manipulating liquidity during the downturn, a claim often echoed by traders who rely heavily on leverage.

Despite the loss, Wynn has signalled he is preparing for an even larger position. In a recent update to followers, he said he plans to “go max long,” claiming the market correction is nearing exhaustion. His comments drew strong reactions from the community, with some warning that repeated high leverage could create further risks.

Wynn is known for bold trades and dramatic swings in fortune. Earlier this year he experienced a much larger loss on a similar leveraged setup that sparked widespread discussion within trading circles. His willingness to re-enter the market so soon has once again drawn attention to the hazards faced by traders who rely on aggressive strategies.

Analysts say the episode highlights a broader trend in the crypto market. Many traders continue to pursue high risk positions in the hope of catching sudden memecoin rallies. These strategies often lead to rapid gains or steep losses, especially when price movements accelerate in thin or volatile market conditions.

For now, Wynn appears determined to continue pursuing large directional bets. Market watchers expect his next move to attract close attention, particularly among retail traders who follow his high risk approach. Whether his planned “max long” produces a turnaround or results in another major wipeout remains uncertain.

As the market continues to react to shifting sentiment, Wynn’s latest setback underscores the unpredictable nature of speculative trading. His next position could either reinforce his reputation for dramatic comebacks or add to a growing list of costly missteps.