Arthur Hayes Targets Meme Coins Ahead of Promising Crypto Rally

As the cryptocurrency market anticipates the “Uptober” trend, which typically brings upward price movements, Arthur Hayes, co-founder of BitMEX, is shifting his focus to meme coins.

He is actively seeking the next popular token and is building a portfolio ahead of this expected market rally, according to a post he made on X on September 28.

While Hayes’ portfolio is open to community suggestions, it currently includes notable names such as Mother Iggy (MOTHER), Mog Coin (MOG), and Pepe (PEPE), all of which have experienced significant price increases recently, particularly those on the Solana blockchain.

Recent data shows Hayes has been making strategic purchases, including a $250,000 investment in PEPE on Binance and a withdrawal of approximately 24.39 billion PEPE tokens for self-custody. Additionally, he received 8 million MOG tokens.

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The meme coins in Hayes’ portfolio have already shown promising results. After his PEPE acquisition, the coin jumped by 35%, though it has since faced a slight decline. Currently, PEPE trades at around $0.00001104, maintaining a weekly gain of over 37%. MOG has similarly fluctuated, with a recent 2% drop, but it has risen nearly 30% over the past week. While details on MOTHER’s performance are less clear, it has also followed a similar trend, currently priced at $0.1107.

As October nears, some investors are already reaping rewards from meme coins, with Moo Deng (MOODENG) emerging as a standout performer. Despite skepticism regarding the fundamentals of meme coins, Hayes advocates for their potential value in the blockchain ecosystem, suggesting they can attract new users and enhance engagement. He points out that platforms fostering an active meme culture, like Solana, have benefited from increased attention and price movements.

Kosta Gushterov

Kоста работи в крипто индустрията от над 4 години. Той се стреми да представя различни гледни точки по дадена тема и харесва сектора заради неговата прозрачност и динамика. В работата си той се фокусира върху балансираното отразяване на събитията и развитието в крипто пространството, като предоставя информация на своите читатели от неутрална гледна точка.