{"id":645118,"date":"2024-09-29T22:00:01","date_gmt":"2024-09-29T22:00:01","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=645118"},"modified":"2024-09-29T21:42:31","modified_gmt":"2024-09-29T21:42:31","slug":"former-bitmex-ceo-arthur-hayes-backs-memecoin-pepe-with-250000-bet","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/analysis\/pepe\/former-bitmex-ceo-arthur-hayes-backs-memecoin-pepe-with-250000-bet\/","title":{"rendered":"Former BitMEX CEO Arthur Hayes Backs Memecoin PEPE With $250,000 Bet"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Arthur Hayes, co-founder and former CEO of the cryptocurrency trading platform BitMEX, has recently made headlines with significant investments in the memecoin sector, particularly through his notable purchase of Pepe (PEPE).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hayes\u2019 optimism towards memecoins, expressed in a recent <\/span><a href=\"https:\/\/x.com\/CryptoHayes\/status\/73774046\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">social media post<\/span><\/a><span style=\"font-weight: 400\"> on X (formerly Twitter), has coincided with a significant surge in PEPE&#8217;s value, reflecting a broader resurgence in interest within the crypto market.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">PEPE Price Soars Following Hayes\u2019 Investment<\/span><\/h2>\n<p><span style=\"font-weight: 400\">On-chain analytics platform Lookonchain <\/span><a href=\"https:\/\/x.com\/lookonchain\/status\/96235174\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">revealed <\/span><\/a><span style=\"font-weight: 400\">that Hayes invested $250,000 in PEPE by purchasing approximately 24.39 billion tokens on Binance on Friday. This investment comes as PEPE is experiencing a notable upward trajectory, reaching its highest price in nearly three months at $0.0000109.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">CoinGecko <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/pepe\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">data <\/span><\/a><span style=\"font-weight: 400\">shows that the token has recorded impressive gains of 34%, 45%, and 38% over the past week, two weeks, and month, respectively. The recent price movements of PEPE are further supported by a substantial increase in trading volume, which surged by 41% in the last 48 hours to nearly $2.5 billion.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/meme-coins\/dogwifhat-whale-buys-more-wif-all-time-high-incoming\/\" target=\"_blank\" rel=\"noopener \">DogWifHat Whale Doubling Down, Buys More WIF: All-Time High Incoming?<\/a><\/div>\n<p><span style=\"font-weight: 400\">This uptick in trading activity is indicative of heightened investor interest, likely fueled by a bullish sentiment following the US Federal Reserve&#8217;s <\/span><a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/bitcoin-jumps-22-post-fed-rate-cut-yet-key-resistance-sparks-crash-fears-bitfinex\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">decision <\/span><\/a><span style=\"font-weight: 400\">to cut interest rates on September 18, which has provided a favorable environment for various cryptocurrencies, including the memecoin sector.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Currently trading at $0.0000107, PEPE is up 17% in the latest trading hours. However, it remains down 37% from its all-time high of $0.0000171 reached in May. Despite this decline, Hayes&#8217;s endorsement appears to be a <\/span><a href=\"https:\/\/www.ktsl888.com\/altcoin\/render-render-23-sharks-whales-continue-to-buy\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">catalyst <\/span><\/a><span style=\"font-weight: 400\">for continued investor interest.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Support For Mog Coin And The Mother Iggy Token<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Hayes&#8217;s involvement in the memecoin space extends beyond PEPE. He has also shown support for two other tokens: Mog Coin (MOG) and the Mother Iggy (MOTHER) token, associated with Australian singer Iggy Azalea and built on the Solana <\/span><a href=\"https:\/\/www.ktsl888.com\/breaking-news-ticker\/microstrategys-bitcoin-stash-exceeds-250000-btc-following-half-billion-dollar-acquisition\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">blockchain<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While Lookonchain has not confirmed whether Hayes invested in these tokens as he did with PEPE, his endorsement has already positively impacted MOG&#8217;s price, which is currently trading at $0.00000165\u2014a gain of over 10% following Hayes&#8217;s announcement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">MOG has recorded a colossal year-to-date surge of 10,398%, alongside a 5.70% increase in trading volume. Despite these gains, it remains 32% below its peak of $0.0000024 reached in July.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/altcoin\/altcoin-market-cap-200-day-ema-altseason\/\" target=\"_blank\" rel=\"noopener \">Altcoin Market Cap Surges Past 200-Day EMA: Is Altseason Finally Here?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Conversely, the <\/span><a href=\"https:\/\/www.ktsl888.com\/news\/solanas-celebrity-tokens-down-94-mother-community-defends-the-memecoin\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">MOTHER token<\/span><\/a><span style=\"font-weight: 400\"> has struggled to maintain momentum, trading down nearly 14% in the past 24 hours. However, it has seen substantial gains of 75% over the last week and 176% in the past two weeks, signaling that it remains an asset of interest despite recent volatility.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Overall, Haye&#8217;s support for the <\/span><a href=\"https:\/\/www.ktsl888.com\/analysis\/xrp\/xrp-to-have-the-mother-of-all-bull-runs-analyst-sets-double-digit-target\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">memecoin sector<\/span><\/a><span style=\"font-weight: 400\"> shows the traction that this part of the market has gained over the past year in particular, outperforming the largest cryptocurrencies on the market by a clear margin.<\/span><\/p>\n<figure style=\"width: 1815px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/k0wJkOBs\/\" alt=\"PEPE\" width=\"1815\" height=\"858\"><figcaption class=\"wp-caption-text\">The 1D chart shows PEPE&#8217;s price trending upwards. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">PEPEUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from DALL-E, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arthur Hayes, co-founder and former CEO of the cryptocurrency trading platform BitMEX, has recently made headlines with significant investments in the memecoin sector, particularly through his notable purchase of Pepe (PEPE).\u00a0 Hayes\u2019 optimism towards memecoins, expressed in a recent social media post on X (formerly Twitter), has coincided with a significant surge in PEPE&#8217;s value, reflecting a broader resurgence in interest within the crypto market. PEPE Price Soars Following Hayes\u2019 Investment On-chain analytics platform Lookonchain revealed that Hayes invested $250,000 in PEPE by purchasing approximately 24.39 billion tokens on Binance on Friday. This investment comes as PEPE is experiencing a notable upward trajectory, reaching its highest price in nearly three months at $0.0000109.\u00a0 CoinGecko data shows that the token has recorded impressive gains of 34%, 45%, and 38% over the past week, two weeks, and month, respectively. The recent price movements of PEPE are further supported by a substantial increase in trading volume, which surged by 41% in the last 48 hours to nearly $2.5 billion. Related Reading: DogWifHat Whale Doubling Down, Buys More WIF: All-Time High Incoming? This uptick in trading activity is indicative of heightened investor interest, likely fueled by a bullish sentiment following the US Federal Reserve&#8217;s decision to cut interest rates on September 18, which has provided a favorable environment for various cryptocurrencies, including the memecoin sector. Currently trading at $0.0000107, PEPE is up 17% in the latest trading hours. However, it remains down 37% from its all-time high of $0.0000171 reached in May. Despite this decline, Hayes&#8217;s endorsement appears to be a catalyst for continued investor interest. Support For Mog Coin And The Mother Iggy Token Hayes&#8217;s involvement in the memecoin space extends beyond PEPE. He has also shown support for two other tokens: Mog Coin (MOG) and the Mother Iggy (MOTHER) token, associated with Australian singer Iggy Azalea and built on the Solana blockchain.\u00a0 While Lookonchain has not confirmed whether Hayes invested in these tokens as he did with PEPE, his endorsement has already positively impacted MOG&#8217;s price, which is currently trading at $0.00000165\u2014a gain of over 10% following Hayes&#8217;s announcement. MOG has recorded a colossal year-to-date surge of 10,398%, alongside a 5.70% increase in trading volume. Despite these gains, it remains 32% below its peak of $0.0000024 reached in July. Related Reading: Altcoin Market Cap Surges Past 200-Day EMA: Is Altseason Finally Here? Conversely, the MOTHER token has struggled to maintain momentum, trading down nearly 14% in the past 24 hours. However, it has seen substantial gains of 75% over the last week and 176% in the past two weeks, signaling that it remains an asset of interest despite recent volatility. Overall, Haye&#8217;s support for the memecoin sector shows the traction that this part of the market has gained over the past year in particular, outperforming the largest cryptocurrencies on the market by a clear margin. Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":642428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88189],"tags":[230,6664,14690,1558,92534,92537,92536,88145,88507,91150,88163,91149,89512,88215,88188],"class_list":["post-645118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pepe","tag-arthur-hayes","tag-crypto","tag-crypto-news","tag-cryptocurrency","tag-mother-iggy","tag-mother-news","tag-mother-price","tag-pepe","tag-pepe-analysis","tag-pepe-bullish","tag-pepe-coin","tag-pepe-memecoin","tag-pepe-news","tag-pepe-price","tag-pepeusdt"],"acf":[],"yoast_head":"\n<title>Former BitMEX CEO Arthur Hayes Backs Memecoin PEPE With $250,000 Bet<\/title>\n<meta name=\"description\" content=\"Arthur Hayes has recently 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