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Market Cap$ 3.60T-0.49%
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DominanceBTC60.09%-0.22%ETH8.86%+0.75%
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Cryptorank
MainNewsPEPE rallies...

PEPE rallies after short squeeze, James Wynn joins the game


by Hristina Vasileva
for CryptoPolitan
PEPE rallies after short squeeze, James Wynn joins the game

During the latest market recovery, PEPE made a comeback and even behaved as a blue chip token. Risky trader James Wynn also joined the game with a 10X leveraged long position. 

PEPE, one of the first influential meme tokens, is making a return. In the past week, the asset almost behaved as legacy blue chip assets. PEPE recovered to $0.000014, near its higher range for the past month. 

For the last 24 hours, PEPE was even more volatile, moving by a few percents for the past day. PEPE gained over 9% net in the past week, with signs of a larger rally. 

Short squeeze drives PEPE traders to take risk

PEPE shows an accumulation of high-leverage short positions, with Binance one of the key markets. More than 23% of PEPE activity is concentrated on Binance, with high-leverage short liquidity up to $0.000016. 

PEPE rallies after short squeeze, James Wynn joins the game
PEPE may see a short squeeze, as exchanges have accumulated high-leverage short positions. | Source: Coinank

PEPE, like other meme tokens, has often rallied following a short squeeze. In the short term, those events are heavily traded, as PEPE volumes increased by over 42% and open interest expanded by 15% to $610M. 

Meme tokens also correlate highly with the BTC performance. As the leading coin recovered above $109,000, the entire meme market also turned to the green. 

Almost all meme assets posted gains, with the exception of Official Trump (TRUMP). TRUMP slid on ‘selling the news’, after the promised crypto dinner under-delivered on expectations. However, older cult tokens and less active memes compensated the loss, with older communities showing they were still around. 

Risky trader James Wynn joins with long position

After trading BTC with a $1B long position, trader James Wynn announced he would allocate any remaining funds in his Hyperliquid account to longing PEPE. 

Soon after the initial message, Wynn once again stated his confidence in PEPE, though with a risk disclaimer. The long position is starting to get copied by the crypto community, potentially unleashing more volatility for PEPE.

The risky long arrived after Wynn locked in over $25.2M from longing BTC, so he used some of the remaining funds to boost the PEPE rally. Wynn’s risky move may cause counter-trading, or further inflate PEPE in another round of exuberance. 

PEPE rallies after short squeeze, James Wynn joins the game
James Wynn’s long position on PEPE was in the green as the meme token recovered. | Source: Hyperliquid

During the May 26 rally, at one point, Wynn’s position held $386K in unrealized gains. The potential of the position may change, as PEPE remains a highly risky token. 

This is not the first time Wynn has taken a risky position on Pepe. At the end of March, Wynn had another 10X position at a time when PEPE was correcting. He held onto unrealized losses of $3.36M, depositing extra collateral and partially closing the position.  

Other traders on Hyperliquid are also taking high-value long positions, making use of the latest market exuberance. The crypto market fluctuates between greed and extreme greed sentiment, leading to a proliferation of long positions and confidence in an ongoing rally. Meme tokens also show more resilience during a market downturn, due to their relatively low volumes and enthusiasm for recovery from recent lows.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Read the article at CryptoPolitan

Read More

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MainNewsPEPE rallies...

PEPE rallies after short squeeze, James Wynn joins the game


by Hristina Vasileva
for CryptoPolitan
PEPE rallies after short squeeze, James Wynn joins the game

During the latest market recovery, PEPE made a comeback and even behaved as a blue chip token. Risky trader James Wynn also joined the game with a 10X leveraged long position. 

PEPE, one of the first influential meme tokens, is making a return. In the past week, the asset almost behaved as legacy blue chip assets. PEPE recovered to $0.000014, near its higher range for the past month. 

For the last 24 hours, PEPE was even more volatile, moving by a few percents for the past day. PEPE gained over 9% net in the past week, with signs of a larger rally. 

Short squeeze drives PEPE traders to take risk

PEPE shows an accumulation of high-leverage short positions, with Binance one of the key markets. More than 23% of PEPE activity is concentrated on Binance, with high-leverage short liquidity up to $0.000016. 

PEPE rallies after short squeeze, James Wynn joins the game
PEPE may see a short squeeze, as exchanges have accumulated high-leverage short positions. | Source: Coinank

PEPE, like other meme tokens, has often rallied following a short squeeze. In the short term, those events are heavily traded, as PEPE volumes increased by over 42% and open interest expanded by 15% to $610M. 

Meme tokens also correlate highly with the BTC performance. As the leading coin recovered above $109,000, the entire meme market also turned to the green. 

Almost all meme assets posted gains, with the exception of Official Trump (TRUMP). TRUMP slid on ‘selling the news’, after the promised crypto dinner under-delivered on expectations. However, older cult tokens and less active memes compensated the loss, with older communities showing they were still around. 

Risky trader James Wynn joins with long position

After trading BTC with a $1B long position, trader James Wynn announced he would allocate any remaining funds in his Hyperliquid account to longing PEPE. 

Soon after the initial message, Wynn once again stated his confidence in PEPE, though with a risk disclaimer. The long position is starting to get copied by the crypto community, potentially unleashing more volatility for PEPE.

The risky long arrived after Wynn locked in over $25.2M from longing BTC, so he used some of the remaining funds to boost the PEPE rally. Wynn’s risky move may cause counter-trading, or further inflate PEPE in another round of exuberance. 

PEPE rallies after short squeeze, James Wynn joins the game
James Wynn’s long position on PEPE was in the green as the meme token recovered. | Source: Hyperliquid

During the May 26 rally, at one point, Wynn’s position held $386K in unrealized gains. The potential of the position may change, as PEPE remains a highly risky token. 

This is not the first time Wynn has taken a risky position on Pepe. At the end of March, Wynn had another 10X position at a time when PEPE was correcting. He held onto unrealized losses of $3.36M, depositing extra collateral and partially closing the position.  

Other traders on Hyperliquid are also taking high-value long positions, making use of the latest market exuberance. The crypto market fluctuates between greed and extreme greed sentiment, leading to a proliferation of long positions and confidence in an ongoing rally. Meme tokens also show more resilience during a market downturn, due to their relatively low volumes and enthusiasm for recovery from recent lows.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Read the article at CryptoPolitan

Read More

Inverse James Wynn Bags $9M — Bitcoin’s Best Indicator?

Inverse James Wynn Bags $9M — Bitcoin’s Best Indicator?

This trader has been betting not against Bitcoin, but against James Wynn, the legenda...
Risky trader James Wynn linked to Alameda Research?

Risky trader James Wynn linked to Alameda Research?

Risky trader James Wynn has received ETH from the wallets of Alameda Research in 2020...