Crypto millionaire James Wynn experienced a small loss of $22,627 on a 10x leveraged Dogecoin position, after previously losing $100 million on a leveraged Bitcoin position. Wynn blames market makers for liquidations, signaling a possible end to the market correction. Leveraged trading is riskier than spot trading due to potential for larger losses.

Despite losses, Wynn has realized a $21.7 million total loss on a single account since March 19. The latest liquidation came after losing almost $25 million on June 5, followed by an additional $100 million Bitcoin bet. Wynn claims orchestrated efforts from major market participants target his liquidations.

Wynn blames the memecoin “cabal” for extractive market practices, such as orchestrated pump and dump schemes. He plans to create his own meme coins to combat these practices. Wynn has suffered several liquidations on memecoins this year, including a $1 million loss on a leveraged Pepe position. Altcoin season 2025 is approaching with changing rules.

Read more at Cointelegraph: James Wynn Liquidated on 10x DOGE bet, as he prepares to ‘go max long’