If you're into meme coins and high-stakes crypto trading, you've probably heard of James Wynn. This guy made headlines by turning a modest investment into millions through early calls on tokens like PEPE, which he spotted at a tiny $600k market cap and rode to a 20,000x gain. He's also famous for placing the first public $1.14 billion long position on Bitcoin right on-chain via Hyperliquid, a decentralized perpetual futures exchange. But trading at that level isn't without risks—Wynn has faced multiple liquidations, including losing nearly $1.28 million in July 2025 alone after getting wiped out nine times.

Now, in a fresh move that's got the community buzzing, Wynn has closed out his 10x leveraged long position on Dogecoin (DOGE) for a tidy profit of $2,835. Right after, he flipped to a short position on Bitcoin (BTC) with a whopping 40x leverage. This was spotted and shared by Onchain Lens on X (original tweet), complete with screenshots from Hyperdash, a dashboard for tracking Hyperliquid traders.

Breaking Down the DOGE Trade

Dogecoin, the OG meme coin inspired by the Shiba Inu dog meme, has been a rollercoaster this year. Wynn's long position—meaning he was betting on the price going up—was held for about 61 hours. He entered with 10x leverage, which amplifies both gains and losses by borrowing funds to increase the position size. Closing it netted him $2,835 in profit after fees, not a massive win compared to his past hauls, but a solid take-profit in a volatile market.

This comes on the heels of Wynn getting liquidated on another 10x DOGE bet just days ago, as reported by Cointelegraph (source). He blamed market makers for hunting his positions, a common gripe in leveraged trading where big players can influence prices to trigger stops. For meme coin enthusiasts, this highlights DOGE's unpredictable swings—great for quick flips but risky with leverage.

The Bold BTC Short

Switching gears, Wynn opened a short on BTC, betting the price will drop. At 40x leverage, this is high-risk, high-reward stuff. His position is valued at around $339,800 for -3.04 BTC, with an entry price of about $111,614. As of the latest Hyperdash data (view his profile), it's showing a small unrealized loss of -1.24%, or about -$106, but that's pocket change for someone used to billion-dollar bets.

Hyperliquid, for those new to it, is a layer-1 blockchain focused on perpetual contracts (perps), allowing traders to go long or short on assets without expiration dates. It's on-chain, meaning all trades are transparent and verifiable on the blockchain, which is how tools like Hyperdash can pull real-time data.

What This Means for Meme Tokens

Wynn's shift from a DOGE long to a BTC short could signal his view on the broader market. Meme coins like DOGE often follow Bitcoin's lead—if BTC dips, altcoins and memes can crash harder. By shorting BTC, Wynn might be anticipating a correction, which could spell trouble for hype-driven tokens.

But remember, Wynn has a history of bold calls. He turned $500k into $82 million trading PEPE and BTC on Hyperliquid, as detailed in reports from Nansen (source) and Instagram insights (source). His PEPE play alone shows his knack for spotting meme potential early. If he's cooling on DOGE, it might be time to watch other emerging memes or reassess your positions.

For blockchain practitioners diving into meme tokens, this is a reminder of leverage's double-edged sword. Always DYOR (do your own research), manage risk, and maybe follow Wynn's Telegram for tips—he shares free insights there (join here).

Stay tuned to Meme Insider for more updates on traders like Wynn and the latest in meme coin tech and trends. What's your take on this move? Drop a comment below!