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Cryptocurrency News Articles
Arthur Hayes Expands ATH Holdings, Makes His First Major Move into the Memecoin Market by Investing in PEPE
Sep 27, 2024 at 11:56 pm
Arthur Hayes, co-founder of BitMEX, has made his first major move into the memecoin market by investing in PEPE.
BitMEX co-founder Arthur Hayes has made his first major move into the memecoin market by investing in PEPE ($PEPE). According to blockchain data from SpotOnChain, Hayes’Binance wallet address withdrew approximately 24.39 billion $PEPE tokens, valued at around $252,000. This transaction marks Hayes’ initial significant engagement with the frog-themed memecoin.
After $ATH, Arthur Hayes turns to accumulate memecoin $PEPE!
In the past 2 hours, Arthur Hayes (@CryptoHayes) deposited 1M $USDC to #Binance and withdrew back 24.39B $PEPE ($252K) to wallet 0x6cd for the first time. Follow @spotonchain for more updates about #ArthurHayes and… https://t.co/zTPMYKQH7W pic.twitter.com/032cBetVuv
— Spot On Chain (@spotonchain) September 27, 2024
Hayes Expands ATH Holdings, Could Be Buying More
Alongside his PEPE activity, Hayes also expanded his holdings in Aethir ($ATH). Per data from Lookonchain, Hayes purchased an additional 23.48 million ATH, valued at $1.5 million. This purchase brings his total ATH investment to $7.5 million over the past 45 days, showcasing his active involvement in the crypto space.
Previously, Hayes had focused primarily on PENDLE, but his recent actions suggest a diversification of his portfolio. Despite being a recent memecoin investor, the Bitmex co-founder tweeted support for MOTHER and MOG memecoins, suggesting his interest in adding these tokens to his investment portfolio.
It's time for a memecoin breakout. I respect my $MOTHER, I $MOG like no one else, but I can't neglect $PEPE.
Yachtzee Bitches!😘😘😘😘😘😘
— Arthur Hayes (@CryptoHayes) September 27, 2024
His remarks indicate a shift in his perspective, viewing these meme-themed tokens as viable investment options in the crypto market. The BitMEX founder's PEPE investment follows growing attention around memecoins, driven by their strong community engagement and social media trends.
PEPE Price Surges 17% After Latest Move
On another note, PEPE's price has also seen significant gains following this latest development. Currently, it trades at $0.00001083, reflecting a 17% surge over the past day, according to Coingecko data.
This recovery brings the coin closer to its critical resistance level at $0.000011. If it breaks past this barrier, it could climb further to $0.000012, with its next crucial resistance being $0.00002.
According to analysts, a broader market rally and other bullish factors could cause this token's price to increase by 91%. Meanwhile, technical indicators, such as the Relative Strength Index (RSI), which currently stands at 73.82, suggest that the coin is in overbought territory, indicating more gains ahead.
At its present price, more than 90% of PEPE holders are in profits.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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