Elon Musk’s Dogecoin Prediction Sparks Liquidation, Trader Loses $22,627

A prominent cryptocurrency trader, James Wynn, saw his Dogecoin long position liquidated after a significant price drop, resulting in a loss of $22,627. Wynn was operating under 10x leverage, which amplified the impact of the market movement. While he entered at higher levels around $0.23826-$0.24499, falling prices triggered automatic sell orders leading to the total liquidation. This event highlights the volatility of Dogecoin and the risks associated with high-leverage trading.