In the wild world of crypto trading, even seasoned advisors can get caught in market turbulence. A recent tweet from on-chain analysis account Lookonchain highlights the rollercoaster ride of Ogle, better known as @cryptogle, an advisor for World Liberty Financial (WLFI). Ogle, who also founded GlueNet and advises America.Dot.Fun, suffered a brutal liquidation, wiping out over $2.47 million from his positions. But true to degen spirit, he bounced back by switching wallets and placing bold longs on Bitcoin (BTC) just before a market rebound.

This story underscores the high-stakes nature of leveraged trading in the crypto space, especially for those involved in projects like WLFI—a DeFi protocol with meme token vibes, thanks to its ties to the Trump family and hype-driven launch in 2024. If you're into meme coins and blockchain tech, understanding these events can offer valuable lessons on risk management and market timing.

The Devastating Liquidation

On October 11, 2025, Ogle's positions on Hyperliquid—a decentralized perpetual futures exchange—took a massive hit during a market crash. Hyperliquid allows traders to use leverage to amplify their bets on crypto assets without expiration dates, but it also means losses can snowball quickly.

From the trading logs shared in the tweet, Ogle closed several long positions (bets that prices would rise) on tokens like ZRO (LayerZero), ASTR (Astar Network), and AVAX (Avalanche), racking up significant realized losses. The standout was a liquidated cross long on ZRO, which alone cost him over $600,000 in profit and loss (PnL). Other closes added to the pain, totaling more than $2.47 million wiped out.

Liquidation happens when a leveraged position's losses exceed the margin (collateral) posted, forcing the exchange to close it automatically to prevent further debt. In Ogle's case, using cross margin meant all his assets in the account backed the positions, leading to a full wipeout.

The Quick Pivot and Rebound

Not one to stay down, Ogle deposited 1 million USDC (a stablecoin pegged to the U.S. dollar) into a new Hyperliquid wallet about six hours later. He then opened a 20x leveraged long on 125.7 BTC, valued at around $14.3 million at the time. This high-leverage bet paid off as the market rebounded, netting him an unrealized profit of $262,000 shortly after.

He didn't stop there—Ogle also went 3x long on 850,000 ASTR tokens, worth about $1.25 million. ASTR is the native token of Astar Network, a Polkadot parachain focused on cross-chain DeFi and Web3 apps.

This move exemplifies the "degen" (degenerate gambler) mindset prevalent in meme token and crypto communities: high risk, high reward. By timing his entry five hours before the rebound, Ogle turned a potential disaster into a comeback story.

Why This Matters for Meme Token Enthusiasts

World Liberty Financial's WLFI token, currently trading around $0.12 with a market cap in the billions, blends DeFi with traditional finance (TradFi) elements. Its association with high-profile figures adds a meme-like appeal, drawing in speculators who thrive on volatility. Ogle's experience shows how even project insiders aren't immune to market swings, but resilience and quick thinking can lead to recovery.

For blockchain practitioners, this serves as a reminder to use tools like on-chain trackers (e.g., Hyperdash) to monitor whale activities and avoid over-leveraging. If you're trading meme tokens or perps, always set stop-losses and diversify to mitigate risks.

Stay tuned to Meme Insider for more updates on WLFI and similar projects shaping the crypto landscape. What's your take on Ogle's bold moves? Share in the comments!