If you're into the wild world of crypto trading, especially the meme coin scene, you've probably heard of James Wynn. This guy's a legend for turning a tiny investment in PEPE into nearly $87 million back in 2023, but he's also infamous for his high-stakes, high-leverage bets that can swing wildly. Recently, onchain data sleuths spotted him cranking up his bearish position on Bitcoin, and it's got the community buzzing.

According to a post from Onchain Lens, Wynn—known on X as @JamesWynnReal—has beefed up his 40x leveraged short on BTC. For the uninitiated, a "short position" means he's betting that Bitcoin's price will drop, and the "40x leverage" amps up both potential profits and losses by 40 times. His current setup? A position worth about $906,946, shorting roughly 8.27 BTC, with a floating profit of around $15,000 at the time of the snapshot.

But here's the kicker: while this short is showing a small green tick right now, Wynn's overall track record on this account is deep in the red. The dashboard reveals a staggering all-time PnL (profit and loss) of -$23,306,027.86. That's right—over $23 million in losses. Replies to the tweet highlight this, with one user pointing out, "Ok but he's $23million in losses, so idk if he's the best dude to be paying attention to." Ouch.

Wynn's no stranger to the spotlight. As detailed in various crypto reports, he made headlines in 2023 by flipping $3,000 into $87 million through PEPE, one of the hottest meme coins at the time. PEPE, inspired by the Pepe the Frog meme, exploded in popularity, and Wynn's early bet paid off massively. He then parlayed that into perpetual futures trading (perps), where traders can hold positions indefinitely without owning the actual asset. In 2025, he set a record with a $1.2 billion BTC long position, but volatility wiped out his gains, leading to nine-figure losses and even deactivating his X account temporarily.

Now, trading on platforms like Hyperliquid—check out his trader profile here—Wynn's back at it. Hyperliquid is a decentralized exchange specializing in perps, and onchain tools like Hyperbot make it easy to track whales like him. His recent moves aren't limited to BTC; he's also dipped into XRP, calling it the "future of banking" and committing significant funds there.

For meme token enthusiasts, Wynn's story is a rollercoaster reminder of the highs and lows in crypto. Meme coins like PEPE thrive on hype and community, much like Wynn's trading style relies on bold convictions. His BTC short comes amid a market surge, with Bitcoin hovering around $110,000 in late 2025. If BTC keeps climbing—fueled by institutional adoption or ETF inflows—this position could get liquidated fast, adding to his losses. But if he's right and a correction hits, he could recoup big time.

Traders in the meme space often watch figures like Wynn because their bets can signal broader sentiment. After all, someone who's mooned on memes might have a sixth sense for market turns. Yet, as one reply quipped, "For some the best way to make 15k usd is to start with 80 million usd." It's a cautionary tale: leverage is a double-edged sword, and even pros can bleed red.

Whether Wynn's short pays off or crashes and burns, it's pure crypto drama. Stay tuned—Meme Insider will keep you updated on how this plays out and what it means for your favorite tokens. If you're trading perps or hunting the next PEPE, remember: do your own research, and never bet more than you can afford to lose.