As a seasoned analyst with years of experience in the cryptocurrency market, I find Arthur Hayes’ recent moves intriguing. His decision to invest in meme coins like Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG) reflects an astute understanding of market trends and sentiment. It seems he is leveraging the viral appeal of these tokens to potentially maximize his returns, a strategy that has proven effective in the past with similar projects like Dogecoin (DOGE).
According to Arthur Hayes, one of the co-founders of the crypto derivatives exchange BitMEX, it seems that the moment has arrived when meme coins could see a significant surge in value. Consequently, he has decided to invest in certain tokens as a means to potentially boost his earnings.
A series of tweets from the American entrepreneur revealed that he has been purchasing several meme coins, including Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG).
Incoming Meme Coin Season?
This week, Hayes shared a tweet where he playfully asked the renowned American rapper and songwriter Iggy Azalea, known as the founder of MOTHER, if she might consider being his mother. This was a creative way to show his backing for her digital currency project.
Initially, I thought the recent Federal Reserve rate cut would boost the Japanese yen and put pressure on Bitcoin (BTC), but I was proven wrong as the digital currency demonstrated resilience during the past weekend. Consequently, I see this as a chance to capitalize on the positive momentum and ride the wave of prosperity in my crypto investments.
“Time to trade some dogshit meme coins,” he added.
In future updates, Hayes confirmed he had increased his investment in the Mother Iggy token, is employing a “martingale” strategy with it, and anticipates its market value soaring to reach $1 billion. At the point of this article, CoinMarketCap data indicated that Mother Iggy’s market cap was already at approximately $986 million.
On a Friday morning, Hayes shared that he too is buying more MOG and PEPE, extending an invitation to his friend to do the same. Data from blockchain analytics platform Lookonchain shows that Hayes has already withdrawn approximately 24.39 billion PEPE, equivalent to around $252,680, from Binance.
Hayes expressed that it’s high time for a memecoin explosion. He has deep admiration for $MOTHER and is unique in his affection for $MOG, but he can’t ignore the allure of $PEPE. Yachtzee Bitches!
Not Just Meme Coins
On a different tweet, it was disclosed that Hayes isn’t merely optimistic about meme tokens; instead, he’s been buying large amounts of Aethir (ATH) – the indigenous token associated with the decentralized cloud infrastructure project Aethir – since mid-August.
The majority of funds allocated for buying ATH were sourced from the sale of Hayes’ Pendle (PENDLE) holdings. Hayes himself stated that his family office fund, Maelstrom, has been gradually getting rid of its PENDLE shares to finance a “special situation.” Despite this, the fund continues to maintain a positive outlook on PENDLE, believing it could dominate the crypto interest rate derivatives market. As a result, Hayes remains optimistic about the asset’s future prospects.
After purchasing additional ATH on Friday morning as per Hayes, his holdings have now increased to around 116.63 million ATH, which equates to roughly $7.5 million in value.
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2024-09-27 21:04