Trader Wynn's Moonpig Bet: $1B Comeback?
Crypto trader James Wynn is urging investors to consider Solana memecoin, Moonpig, predicting a 2,600% increase in market capitalization. Following significant losses in perpetual contracts, Wynn is aiming for a ‘trade of the century’ to recover his losses.
Moonpig Endorsement and Projected Rally
In a recent X post, Wynn described Moonpig as “anti-cabal” and “anti-farm,” highlighting its organic growth to $120 million market cap without paid influencers. He points to its current listing on exchanges like HTX Global, MEXC, and LBank as indicators of potential.
$moonpig is anti-cabal anti-farm. If it wasn’t, it would never have ran to $120mmc completely organically without any paid KOLs. It’s currently chilling at a $37mmc. With $14.6m on chain volume and multiple exchange listings: @HTX_Global @MEXC_Official @LBank_Exchange…
— James Wynn 🐳 (@JamesWynnReal) May 31, 2025
Wynn plans to use a dollar-cost averaging strategy, stating he will gradually sell at appropriate price points, unlike influencers who may quickly dump their holdings. He projects Moonpig to reach a $1 billion market cap.
Following Wynn's endorsement, Moonpig prices increased by 10% in a day, trading at $0.04.
High-Risk Strategy and Past Performance
Wynn has a history with memecoins, notably backing Pepe from a $600,000 market cap to $4.92 billion. However, he later sold his entire PEPE holdings to support Bitcoin long positions.
His recent losses on perpetual contracts totaled $99 million, fueling speculation that his Moonpig endorsement might be a high-risk attempt to recoup losses. Some critics are calling it 'revenge trading'.
While Wynn's past successes are noted, his current strategy has been met with skepticism. The cryptocurrency market's volatility demands caution and thorough due diligence before investment. Codeum offers smart contract audits, tokenomics consulting, and other services to help mitigate risks in the blockchain space.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Conduct thorough research before investing in any cryptocurrency.