The post Memecoin Boom: Arthur Hayes Bets Big on PEPE as Meme Market Nears $50 Billion appeared first on Coinpedia Fintech News
As the memecoin market skyrockets toward a $50 billion valuation, former BitMEX CEO Arthur Hayes has made a bold move by investing in PEPE. With memecoins rallying and top tokens seeing massive gains, Hayesâ sudden interest in PEPE has caught everyoneâs attention. Could this be the beginning of the memecoin surge?
Arthur Hayesâs Entry into Memecoin
According to on-chain data from SpotOnChain, Arthur Hayes recently deposited 1 million USDC into Binance, following which he withdrew 24.39 billion PEPE, worth $252,000, into his personal wallet. This marked his first transaction involving PEPE, showing his interest in the meme-based cryptocurrency.Â
After $ATH, Arthur Hayes turns to accumulate memecoin $PEPE!In the past 2 hours, Arthur Hayes (@CryptoHayes) deposited 1M $USDC to #Binance and withdrew back 24.39B $PEPE ($252K) to wallet 0x6cd for the first time.Follow @spotonchain for more updates about #ArthurHayes and⊠https://t.co/zTPMYKQH7W pic.twitter.com/032cBetVuv
â Spot On Chain (@spotonchain) September 27, 2024
Further in a tweet, Hayes expressed his growing interest in memecoins like MOTHER, and MOG, indicating his confidence in their potential as serious investments.Â
With social media hype and a strong community backing memecoins like PEPE, Hayesâs investment could drive even more interest.
As one of the most influential figures in crypto, his backing could bring even more attention to PEPE, potentially driving up its value in the coming days. If Hayes continues to support PEPE, the memecoin could gain further traction, making it a strong contender in the growing memecoin market.
Hayesâs Growing Crypto Portfolio
Hayes hasnât stopped with $PEPE. According to Lookonchain, he also added 23.48 million Aethir ($ATH) tokens, worth $1.5 million, to his growing portfolio. Over the last 45 days, Hayes has poured $7.5 million into $ATH, showing his active involvement in the crypto space.
Arthur Hayes (@CryptoHayes) bought another 23.48M $ATH($1.5M) 1 hour ago.Since August 15, he has bought a total of 116.63M $ATH($7.5M), with an average buying price of $0.0645.https://t.co/NzIsA4bhJL pic.twitter.com/TN5X4hc9yx
â Lookonchain (@lookonchain) September 27, 2024
Arthur Hayesâs move has left the market curious about his future strategies in the cryptocurrency landscape, particularly with memecoins.
