Arthur Hayes Makes First Major Move into Memecoin $PEPE with $1M
Release: 2024/09/28 04:49 Reading: 226
Arthur Hayes Invests in $PEPE, Expresses Confidence in Memecoins
Arthur Hayes, co-founder of BitMEX, has recently made a significant investment in the memecoin $PEPE. He deposited $1 million in USDC into Binance and withdrew approximately 24.39 billion $PEPE, valued at around $252,000. This marks his first major engagement with $PEPE, according to data from Spot On Chain.
Hayes Expresses Support for Memecoins
In a recent tweet, Hayes revealed his optimism regarding the potential of memecoins. He expressed appreciation for $MOTHER and $MOG, stating that he "can't turn a blind eye" to the growing interest in $PEPE. His comments indicate a newfound confidence in memecoins as genuine investment assets.
Growing Interest in $PEPE
Memecoins have gained widespread attention recently due to their active communities and viral social media posts. The $PEPE token, associated with the popular meme character, has seen growing investor interest. Hayes's substantial purchase may serve as a turning point for the token, inspiring other investors to examine it more closely.
Hayes's Additional Investments
In addition to his $PEPE investment, Hayes has also increased his holdings of $ATH (Aethir). According to Lookonchain, he purchased an additional 23.48M Aethir, worth approximately $1.5M at the time of purchase. This brings his total investment in $ATH to $7.5 million over the past 45 days.
Expectations for $PEPE and the Memecoin Sector
Hayes's investment in $PEPE comes at a time when various cryptocurrencies are experiencing significant gains. His active participation in the crypto space suggests that he remains an influential figure. Investors are now eagerly awaiting the impact of his investment on $PEPE and the broader memecoin sector.
If Hayes continues to support $PEPE, as reported by Spot On Chain, the token may attract increased attention and potentially rise in value. Such developments could further legitimize memecoins as viable investment options within the dynamic cryptocurrency landscape.
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