Arthur Hayes Pumps Another Solana Meme Coin, FLOWER, Triggering a 35% Price Surge

BitMEX's Arthur Hayes has once again promoted a Solana-based memecoin to his followers, triggering a surge in its price.

BitMEX co-founder and crypto influencer Arthur Hayes has once again shown his support for a Solana meme coin, leading to a rapid surge in its price.

In a recent post on X, Hayes shared the Dextool profile of the FlowerAI (FLOWER) meme coin, adding the phrase “kek” to his post. At the time of the post, FLOWER was trading at $0.02232, but the coin's value quickly spiked above $0.03. This surge also boosted FLOWER's market capitalization from $22 million to $30 million.

However, this move has sparked some criticism within the crypto community. Some are questioning why a prominent figure like Hayes would choose to promote a low-cap coin. Others have accused Hayes of manipulating the market for personal gain, suggesting that he is attempting to pump and dump the asset on his followers.

In addition to investing in lesser-known tokens like MOTHER and MOG, Hayes has also previously promoted other Solana meme coins, including Dogwifhat (WIF) and Solana AI meme coin Goatseus Maximus (GOAT).

Recently, Hayes endorsed Solana meme coin Deep Worm Price, which surged 180% after his mention. However, the coin's market cap dropped after the initial surge, highlighting the volatility that can come with meme coin investments.

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Despite this, the Solana meme coin ecosystem has been a major driving force for the Solana network. The high demand for these tokens has contributed to Solana’s all-time high price of $263 and helped propel it to lead other blockchains, including Ethereum, in decentralized exchange (DEX) volume.