James Wynn Refocuses on Memecoin Communities After Major Losses

Memecoin trader and Hyperliquid whale James Wynn reflected on losing millions as he announced plans to build a community around a new crypto called Moonpig.

Wynn, known for placing risky trades on the decentralized crypto derivatives exchange Hyperliquid, recently turned $4 million into $100 million. However, in the following days, he lost the profits and is now down to -$13 million.

The Perps Casino Was Fun,

Says Wynn

The crypto trader doesn’t regret losses. While Wynn fell short of his $1 billion goal and ended up with major losses, he’s hopeful things will go better next time.

According to on-chain analytics platform Lookonchain, Wynn actively traded PEPE and TRUMP memecoins, along with Bitcoin and other assets. Reflecting on his bold moves, he noted that most traders wouldn’t dare to place such risky bets, lacking either the funds or the courage.

Lately, Wynn has been promoting the MOONPIG memecoin on his X account and plans to keep building a community around it. 

Controversy Around James Wynn’s Memecoin Endorsements

James Wynn is a polarizing figure in the crypto community, known for both his trading success and his controversial online presence. While some view him as a skilled trader, others question the consistency of his messaging and tactics. His trades are closely watched due to their influence on memecoin markets, where sudden price movements often follow his endorsements.

On May 28, Wynn warned followers about fake memecoin promotions being circulated under his name, stating that he only supports PEPE and MOONPIG. However, on-chain investigator ZachXBT responded with claims that Wynn has, over the past few years, promoted the same types of memecoin schemes.

ZachXBT reposted an earlier post from crypto analyst Dylan, featuring screenshots of chats in which Wynn allegedly discusses token deals and later sells his holdings after public promotion, actions that can impact market prices. Following the backlash, Wynn reportedly deleted past posts and attempted to sanitize his online presence.

The incident has reignited broader discussions about transparency and accountability among crypto influencers, especially those with large followings.