BitMEX co-founder Arthur Hayes expanded his meme coin portfolio last week. Hayes plans to develop a strategy for the upcoming “Uptober” period and asks his followers for buy recommendations. Focusing primarily on Solana-based coins, Hayes’ largest meme asset is Ethereum-backed Pepe (PEPE) $PEPE
found in his token.
Hayes noted that October was historically positive for Bitcoin and the general crypto markets, and he expects meme coins to gain value during this period. He believes that this period, called “Uptober,” will create new opportunities for meme coins as the market is in an uptrend. His portfolio includes Solana’s MOTHER and MOG coins, as well as Ethereum-based PEPE tokens. According to SpotOnChain data, Hayes currently owns 24 billion PEPE tokens. He also reportedly invested in other meme coins based on Solana, such as Smoking Chicken Fish (SCF) and Ponke (PONKE).
Along with the rise of Bitcoin, meme coins have also experienced remarkable increases. Dogecoin gained 16%, Shiba Inu 35% and PEPE 32% in the last week. These increases increased investors’ interest in meme coins.
When creating a portfolio, Hayes takes community support and market trends into consideration. He aims to reduce his risks by diversifying his portfolio based on the suggestions he receives from his followers.
Things to consider when investing:
Volatility of meme coins
Closely following market analysis
Reducing risk through portfolio diversification
Although there are different opinions among market experts about the future of meme coins, it is observed that the interest in such cryptocurrencies and the number of investors continues to increase.
