James Wynn, a millionaire leverage trader, faced liquidation on a 10x Dogecoin (DOGE) position, incurring a loss of $22,627 while speculating that the ongoing market downturn was coming to an end. This recent liquidation was attributed to supposed actions by a market maker 'cabal' responsible for targeting his leveraged positions. Despite the setback, Wynn remains optimistic and stated that it's time to 'go max long' on DOGE. Since March 19, Wynn has reportedly incurred a total loss of $21.7 million across trades, including substantial losses on various memecoins like PEPE. He criticized the memecoin trading environment, alleging that significant market players are engaging in manipulative practices such as pump and dump schemes. Wynn's comments highlight the volatility and risks inherent in trading leveraged positions within the cryptosphere, particularly with memecoins.

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