BitMEX crypto exchange founder Arthur Hayes, one of the most famous and influential traders in the crypto market, is actively studying new industry trends
Arthur Hayes has become interested in decentralized physical infrastructure networks (DePINs) and memecoins.
Arthur Hayes stocks up on PEPE
Today, September 27, the founder of BitMEX announced plans to invest in memecoins. Three coins caught the trader's attention: MOTHER from singer Iggy Azalea, Mog Coin (MOG), and PEPE.
According to Spot On Chain, Hayes bought 24.39 billion PEPE worth $252,000. Such large transactions made by well-known figures in the crypto community usually quickly attract attention. In addition, they also affect the sentiment among traders.
"After buying ATH, Arthur Hayes started accumulating the memecoin! In the last two hours, he deposited 1 million USDC on Binance and bought 24.39 billion PEPE ($252,000) for the first time, sending the tokens to his wallet," on-chain analysts noted.
Read also: Cryptoanalyst names 10 memecoins that could rise in price by tens and hundreds of times
Arthur Hayes' portfolio. Source: Spotonchain
Hayes previously sold almost all of his PENDLE tokens and bought Aethir (ATH) coins. Such changes in the BitMEX founder’s portfolio suggest that he may have decided to focus on DePIN and memecoins.
After the trader bought PEPE, the price of the memecoin rose by more than 18% to $0.00001069. According to CoinGecko, at the time of writing, the asset is trading at $0.0000105.
PEPE Price Chart. Source: CoinGecko
PEPE is not the only memecoin showing positive dynamics today. Over the past 24 hours, the capitalization of the meme coin sector has jumped by more than 17%. Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF) and other tokens have shown significant growth.
