Arthur Hayes Increases His Accumulation of Meme Coins
Release: 2024/09/29 03:39 Reading: 407
Arthur Hayes Ramps Up Meme Coin Accumulation
Arthur Hayes, co-founder of BitMEX, has recently expanded his portfolio to include meme coins, aiming to capitalize on the anticipated market surge in October, known as "Uptober."
Meme Coin Strategy for Uptober
Hayes believes that the typically bullish nature of October for Bitcoin and the wider crypto market will extend to meme coins, presenting potential profit opportunities.
Investments in Meme Coins
Hayes' portfolio includes Solana's MOTHER and MOG tokens, as well as Ethereum-based PEPE tokens. Data from SpotOnChain indicates that he holds 24 billion PEPE tokens. Reports also suggest investments in Solana-based coins like Smoking Chicken Fish (SCF) and Ponke (PONKE).
Market Performance of Meme Coins
Amidst Bitcoin's recent gains, meme coins have witnessed notable surges. Dogecoin has risen 16% in the past week, Shiba Inu 35%, and PEPE 32%. This performance has boosted the popularity of meme coins among investors.
Hayes' Approach
Hayes factors in community support and market trends when selecting meme coins. By diversifying his portfolio based on suggestions from followers, he aims to mitigate risks.
Investor Caution
Given the volatility of meme coins, investors are urged to exercise caution and monitor market analyses closely. Hayes' strategy aligns with the anticipated market trend while maximizing potential returns.
Future of Meme Coins
Despite varying opinions among market experts, the popularity and investor interest in meme coins continue to grow.
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