BitMEX founder Arthur Hayes is making headlines with a series of purchases that are seen as part of a portfolio restructuring strategy. A year after investing in PENDLE, Hayes is expanding his exploration of new crypto trends, including Decentralized Physical Infrastructure Network (DePIN) and memecoins.

His moves are not only strategic but also in line with current market trends and conditions. Memecoin, riding the wave of market optimism, has seen strong growth, while DePIN remains one of the standout stories.

Arthur Hayes buys 24.39 billion PEPE tokens

On Friday, during the early hours of the Asian trading session, Hayes announced plans to buy memecoins. He specifically highlighted three tokens: Iggy Azalea's MOTHER, MOG, and PEPE.

Blockchain analytics platform Spotonchain said Hayes bought 24.39 billion PEPE, worth about $252,000. Such large-scale transactions from prominent figures in the cryptocurrency market often attract attention and can impact trading sentiment.

“After ATH, Arthur Hayes has moved to accumulate memecoin PEPE! In the past two hours, he deposited 1 million USDC to Binance and withdrew 24.39 billion PEPE ($252,000) to his 0x6cd wallet for the first time.”

Hayes recently shifted his focus from PENDLE to ATH, making ATH his second-largest holding after Ethereum. With these adjustments, the BitMEX CEO appears to be shifting his focus to both DePIN and memecoin stories.

Hayes’ latest purchase has sent the PEPE token up more than 15% on the day and is trading at $0.00001.

PEPE isn’t the only meme coin to see gains today. Industry-leading tokens like DOGE, SHIB, WIF, FLOKI, and BONK are also seeing significant gains over the past 24 hours, reflecting the overall positive market sentiment.