Renowned crypto trader James Wynn has made waves again. Within just three hours, he moved 443.73 billion PEPE tokens—worth over $4.41 million—to Binance, triggering speculation that he’s dumping his meme coin holdings to fuel a high-leverage Bitcoin long.
Massive PEPE Deposit to Binance
According to Arkham Intelligence, Wynn executed the transfer in two large transactions. The first saw 240 billion PEPE tokens moved, followed by another 203.73 billion PEPE, valued at $2.82 million.
These deposits hint that Wynn might be preparing for another bold move—this time, betting heavily on Bitcoin. The trader is known for aggressive positions, and reports suggest he’s now doubling down on a 40x long BTC position.
PEPE Price Reaction and Market Buzz
Following the transfers, PEPE dropped 2%, though the token is still up 53% for the month. Wynn’s activity has reignited concerns over price volatility and raised the question—will other traders follow suit?
Interestingly, blockchain tracker Whale Alert recently flagged a separate transaction involving 2 trillion PEPE tokens (worth $27.89 million) moved from Bybit to an unknown wallet. This aligns with increased market interest in the meme coin.
Wynn’s Recent Losses Raise Eyebrows
Despite his fame, Wynn’s track record has taken a hit. Over the past week, he’s reportedly lost $60 million, wiping out a chunk of his $80 million in unrealized profits. Analysts are now questioning his judgment, especially after his previous 10x long on PEPE fell short.
Yet, even as Wynn pulls out, bullish momentum remains strong. PEPE futures open interest has jumped nearly 6% to surpass $600 million, signaling trader confidence. Technical indicators from CoinGape also predict a potential 103% price rally in the coming weeks.
Will Wynn Miss Out Again?
The market appears optimistic, even as Wynn steps away from PEPE. This contrast between investor sentiment and Wynn’s exit has fueled debates across the crypto space. Could this be another misstep for the high-risk trader?
Only time—and price charts—will tell.
