Another round of liquidation! This trader lost $640,000 in a week, with PEPE positions shrinking by 90%

【Crypto World】Some crazy things are happening in the crypto circle. Trader James Wynn with ID 0x507 has been having a rough time lately—on January 12, he closed out a 10x leveraged PEPE long position, taking a loss to cut his position. Data shows that his total holdings dropped from $2.45 million a week ago to about $240,000, a decrease of over 90%, and his account funds fell from $800,000 to around $35,000.

Worse still, liquidations are happening one after another. On January 8 alone, he experienced 12 liquidations, with his position size being cut multiple times. The ongoing “cutting losses” operations have resulted in a weekly loss of $640,000.

Looking at his specific positions: his 25x leveraged ETH long position is still open, with a size of $680,000, an unrealized loss of $150,000 (-116%), an average price of $3,252, and a liquidation price set at $3,110; his 10x leveraged PEPE long position, though mostly closed, still has residual holdings of $245,000, with an unrealized loss of $45,000 (-73%), an average price of $0.0062.

What’s heartbreaking is that on January 1, he publicly predicted that PEPE’s market cap would surpass $69 billion by 2026, even threatening to delete his social media accounts if he was wrong. Ironically, PEPE’s current market cap is only about $2.8 billion, far from the target. This series of actions has become a textbook example of how not to do it.