Arthur Hayes’ quick exit, hits $47K loss in meme coins in 6 days
Release: 2024/10/03 16:01 Reading: 694
Arthur Hayes, co-founder of BitMEX and known for his bold bets on meme coins, has recently experienced losses on his latest trades. After accumulating PEPE and MOG, he exited both positions within a short period, resulting in an approximate loss of $47,000.
The meme crypto category has witnessed a decline lately, with a drop in market capitalization of over 4% in the past 24 hours. Despite this setback, PEPE has still managed to maintain a 21% increase in the last 30 days. MOG has also performed well in the long run, showing a significant gain of 47% over the same period.
Hayes's decision to sell PEPE and MOG indicates his willingness to accept losses on his meme coin investments. Previously, he had expressed optimism about the potential breakout of the meme coin market. However, the recent lackluster performance of these assets has dampened his enthusiasm.
At the time of writing, PEPE is trading at $0.00000921, while MOG is at $0.00000139. MOTHER, a meme coin promoted by Hayes, has also faced a decrease in value, falling over 30% in the last week.
The market downturn has caused investors to reconsider their holdings in meme coins, and Hayes's actions underscore the volatility and uncertainty associated with these assets.
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