The legendary crypto whale and daredevil trader James Wynn, who once turned a few thousand dollars into a $25 million profit after making an audacious bet on the PEPE memecoin, is reportedly up to his old tricks again, investing $90,000 worth of ETH on another emerging memecoin called the Pepe’s Dog (ZEUS).
Wynn’s latest gambit was surfaced by the highly respected crypto intelligence protocol Arkham Intelligence and subsequently announced on X.
The investment has helped thrust the relatively unknown ZEUS token firmly into the crypto spotlight, and there are reasons to believe that Wynn could be onto something, for the project stands out from the memecoin crowd due to its focus on securing its IP rights.
Normally, memecoins cause a lot of confusion with regard to IP rights, because – let’s face it – who in the world can actually “own” a meme? For a meme to become a meme, it needs to go viral, and that inevitably means thousands of people taking an image, altering it and reposting it all over the web. Very rarely do memecoin creators claim to have any kind of stake in the image their token is based on, or attempt to enforce their rights to it.
But the creators of Pepe’s Dog have done things differently. The project is trying to seize on the fame of PEPE, one of the most successful memecoins ever seen, and a key part of its strategy involves securing the rights to the image of Pepe’s Dog from its creator Furie, who is also the artist behind PEPE’s iconic Frog. In addition, the project also snapped up the original Pepe’s Dog NFT from its previous owner, a well-known crypto market maker called Jon “Jagged” Eyrick, further cementing its legitimacy.
Pepe’s Dog plans to leverage its IP rights to grow the ZEUS memecoin into a full-fledged brand, having created a publicly incorporated company called Zeus CC8, which has trademarked the name “ZEUS”. Among other things, it’s planning to sell a range of ZEUS-branded merchandise, which will likely be available at discounted prices for ZEUS memecoin holders.
ZEUS’s novel strategy has helped the project to gain traction even before Wynn’s bet, with its value rising more than 91% in the last month. Now, with Wynn’s latest bet, ZEUS’s momentum looks to be accelerating, with its price up more than 136% in the last seven days. According to Arkham, Wynn himself was up $14,000 within 24 hours of entering his position.
Who Is James Wynn?
James Wynn is an anonymous crypto whale, renowned for his high-stakes trading activities. Wynn shot to crypto stardom last year following a series of megabucks trades on the Hyperliquid exchange, where he notably executed a $1.2 billion long position on Bitcoin, before closing with a $17.4 million loss. He subsequently hit back by opening a $1 billion short position on BTC using 40-times leverage, enabling him to rake in almost $3 million in profit before closing the trade.
Later, he famously bet $7,000, becoming one of the earliest investors in the hit memecoin PEPE, transforming this into millions of dollars.
More recently, Wynn switched his attention to the memecoin MOONPIG, which was launched on the Solana blockchain earlier this year. He reportedly snatched up a substantial portion of the token’s overall supply, before selling it and raking in millions in profits ahead of its subsequent price decline. While some have criticized Wynn for “pumping” MOONPIG’s value, the token continues to enjoy widespread support from the crypto community.
Wynn has also made a ton of quieter bets, reporting a net profit of $25 million from his crypto trades as of last month, having started with a wallet balance of between $3 million and $4 million, reports say.
Wynn’s Bet on Pepe’s Dog (ZEUS) Memecoin
Not surprisingly, Wynn has now taken to shilling the ZEUS project, with his latest tweet on the project getting more than 126K views so far.
It remains to be seen if ZEUS can maintain its current momentum, but Wynn himself offered some food for thought in a second post on X that he has since pinned to his profile. Referring to the conflict in the Middle East, he forecasts that we’re on the verge of seeing another “covid-like black swan event” that could arise within the next 48 hours should it break out into all-out war between Israel and Iran.
If that conflict escalates, Wynn believes it will cause fear to ripple across financial markets, causing a significant downturn – and creating a beautiful opportunity for smart investors to get in while prices are low.
The prospect of a black swan event on the immediate horizon will have plenty of experienced traders licking their lips in anticipation. If the crypto market does see a short-term collapse in the next few days, the prospects for those willing to bet on sustainable, long-term projects will look even more enticing.
Also Read: Solana Enjoys Meme Coins Trend; But It Has Greater Potential!
