Arthur Hayes flips on Monad hours after aping In: ‘Send this dogshit to zero’

Key Takeaways

What happened with Arthur Hayes and Monad [MON]?

On November 25, Hayes publicly announced he had “aped” into MON, triggering a 30% intraday rally to $0.048, but reversed his position within seven hours.

Why is MON so volatile despite its $4.09B fully diluted valuation?

MON’s circulating supply of just 10.83 million tokens [creating a low float] combined with its $4.09 billion FDV creates a structure where small capital inflows or influencer sentiment can trigger massive price swings.

Arthur Hayes, BitMEX co-founder and one of crypto’s most vocal traders, executed a stunning about-face on Monad [MON] within seven hours on 25 November —publicly aping into the token, triggering a 30% pump, then capitulating and urging followers to “send this dogshit to ZERO” as the rally evaporated.

The whiplash sent shockwaves through the Monad community and reignited debate about the dangers of low-float, high-FDV token structures that amplify influencer-driven volatility.

Hayes pumps MON, then dumps hours later

On 25 November, Hayes posted a tongue-in-cheek endorsement of MON, describing it as “another low float, high FDV useless L1” but adding “obvi I aped. It’s a bull market…!”

Source: X

MON responded instantly, surging over 30% to approach $0.048 within hours.

Seven hours later, Hayes reversed course completely: “I’m out. Send this dogshit to ZERO!” accompanied by a chart showing MON’s rally collapsing back toward $0.042.

Source: X

The dramatic flip triggered immediate confusion and backlash. Some traders accused Hayes of exploiting MON’s thin liquidity for a quick trade, while others saw it as validation of concerns about the token’s unsustainable structure.

Monad’s price action shows classic pump-and-dump pattern

MON’s 24-hour chart captures the chaos:

• Sharp rally beginning late 24 November
• Breakout momentum carrying into the 26th, peaking near $0.048
• Corrective dip to $0.040, coinciding with Hayes’ exit announcement
• Current consolidation around $0.040–$0.042

According to CoinMarketCap, MON trades at $0.04204 as of 27 November, still up approximately 59% from its listing price despite the recent turbulence.

Source: CoinMarketCap

The token’s 24-hour trading volume of $651 million against a circulating supply of just 10.83 million MON creates conditions where single large trades—or influential voices—can trigger outsized moves.

What’s next for MON?

Despite the turbulence, MON remains a focal point for:

• Speculation around Tier-1 exchange listings (currently trading on Bybit, Gate.io)
• Anticipated airdrop narratives for ecosystem participants
• Broader debate about L1 viability in an increasingly saturated market

Key technical levels:

• Support: $0.040 [current consolidation zone]
• Resistance: $0.045–$0.048 [recent rejection zone]
• A break below $0.040 would confirm Hayes’ bearish thesis
• Reclaim of $0.048 could revive bullish momentum temporarily

MON’s supply structure, extreme volatility isn’t an aberration—it’s the baseline expectation.

As more tokens unlock and early investors look to exit, MON faces structural selling pressure that no amount of influencer hype can permanently offset.