From $900,000 to $20,000: The rollercoaster ride of PEPE traders

【Blockchain Rhythm】A trader who performed a “desperate comeback” on the Hyperliquid platform has attracted attention today. The trader, known as 0x507, James Wynn, experienced a harrowing moment of 12 consecutive liquidations, with account funds nearly bankrupt at the lowest point. However, amid a bullish market sentiment today, he chose to walk away unscathed.

His liquidation record is as follows: he sold all PEPE and ETH long positions in one go, withdrawing about $41,000 from the platform. The PEPE longs contributed $110,000 in profit, but the $160,000 loss from ETH longs offset much of the gains, leaving a net profit of about $20,000 on the books.

Returning to the beginning of the story. This address initially used less than $20,000 to go long on PEPE, and the account skyrocketed to a peak of $900,000. But the market was not always friendly. On January 8th, 12 consecutive liquidations hit like waves, each time cutting a large chunk of the principal. Today, he finally managed to bottom-fish successfully during the rebound and escaped the top.

Interestingly, just on January 1st of this year, this trader publicly declared that PEPE’s market cap would reach $69 billion by 2026, and if not achieved, he would deactivate his account. Currently, PEPE’s market cap remains at $2.54 billion, still far from the target. But based on his actions today, it seems he no longer intends to continue betting on this prophecy.