Big news in the crypto world, Arthur Hayes, the mastermind behind BitMEX, is generating noise again with his latest buying spree.
After spending a year investing in PENDLE, he’s now diving into new trends, you guessed it, memecoins among others. This guy knows how to keep things exciting!
Arthur Hayes goes all in on PEPE
On Friday Hayes announced his plans to buy some meme coins. He specifically mentioned three: Iggy Azalea’s MOTHER, a cat-themed coin called MOG, and the ever-popular PEPE.
“It’s time for a memecoin breakout. I respect my MOTHER, I MOG like no one else, but I can’t neglect PEPE.”
To make it clear, Hayes made quite the splash by purchasing 24.39 billion PEPE tokens for about $252,000.
When a big name like him makes moves like this, traders pay attention, because it can really shake things up in the market!
Just two hours after his all-time high purchase, Hayes deposited 1 million USDC to Binance and then withdrew 24.39 billion PEPE tokens to his wallet for the first time.
Shifting strategies and market reactions aren’t just fun and games
Hayes shared that he shifted his focus from PENDLE to PEPE, making it his second-largest holding after Ethereum.
This change shows that he’s pivoting toward both the DePIN and memecoin narratives. And guess what?
Since Hayes made his move, the PEPE token has jumped over 18%, trading at $0.00001069 as of now.
But PEPE isn’t the only memecoin on the rise today! Other big players in the space like DOGE, SHIB, WIF, FLOKI, and BONK are also seeing sick gains. It looks like there’s a lot of excitement in the market right now.
Tulips are beautiful, but how much money they’re worth for your garden?
Now, some people say most of these meme coins are just trash, and let me tell you, they might have a point. But let’s not forget there are real gems out there too!
Whether it’s an active community or an adorable theme, there are some success stories.
Because you know, who doesn’t love puppies and kitties? Sure, some coins might crash and burn, but many believe that the fun and potential rewards make it all worthwhile.
The think it is if more influential figures like Arthur Hayes keep pushing into memecoins and if the market continues to show positivity, we could see even more growth in this area.
The world of crypto is always changing, and with characters like Hayes involved, who knows what could happen next?
