James Wynn has just taken one of the largest visible hits in recent memecoin trading history. His aggressive $kPEPE long position—once valued at over $181K—has been reduced to scraps, with more than $1 million in realized losses now confirmed.
This liquidation wave began on July 29 and continued through August 1, triggering 17 forced closures as prices dipped below the liquidation threshold. His entry price sat at $0.0129, but $kPEPE has now fallen beneath $0.0106, wiping out margin and momentum.
At peak exposure, Wynn held over 181.5 million $kPEPE at 122.27x leverage—a risky setup that collapsed under pressure. His unrealized PnL hit -$36,417, while funding costs bled another $5.6K. Trade fees across the liquidation spree stacked up to $370, adding salt to open wounds.
Meanwhile, his second wallet paints a bleak picture. It now holds only $1,526, with 0.397 ETH and 0.305 USOL remaining. That portfolio is down -3.55%, reflecting broader July volatility.
Wynn’s PnL curve shows a sharp and continuous downward trend throughout the month. This coincides with the choppy price behavior of both $BTC and $PEPE , especially around ETF positioning events and retail outflows.
This incident serves as a brutal reminder: high leverage on illiquid meme assets can and will wipe out accounts when the tide turns. While traders often chase exponential upside, Wynn's downfall shows what happens when conviction meets poor timing.
Markets may recover, but his capital won’t.
#TrumpTariffs #MarketPullback #SECProjectCrypto #WhiteHouseDigitalAssetReport #PEPE
