Arthur Hayes Makes First Major Move into Memecoin $PEPE with $1M

Arthur Hayes, co-founder of BitMEX, has recently shifted his focus to the memecoin $PEPE. He deposited $1 million in USDC into Binance, subsequently withdrawing approximately 24.39 billion $PEPE, valued at around $252,000, to his wallet (0x6cd). This marks his first significant engagement with $PEPE, according to data from Spot On Chain.

Arthur Hayes Tweets Support for $MOTHER and $MOG, Increases $ATH Holdings

Hayes revealed his optimism regarding such a memecoin breakout in a tweet recently. He wrote about appreciation to $MOTHER and likeness for $MOG stating that he could not turn a blind eye to the growing interest in $PEPE. His comments indicate new confidence in memecoins as genuine investment assets, which is a new angle on these tokens in the market.

New tokens known as memecoins received much attention lately with the help of the engaged community and trending social media posts. The token $PEPE that is associated with the meme character also experiences growing investors’ interest and Hayes’s massive purchase can be a turning point for the token. His engagement simply might inspire other investors examine the $PEPE more thoroughly, which will increase its popularity and possible worth.

In addition, he has added some more $ATH to his current Aethir holdings. As per Lookonchain, he has bought another 23.48M Aethir worth around $1.5M at the time of purchase. Now he has invested $7.5 million in $ATH during the last 45 days.Previously, all his attention was focused on $PENDLE.

Hayes’s Investment Raises Expectations for $PEPE and Memecoin Sector

Hayes new role comes at a time that has seen the various cryptocurrencies gain significantly proving that he continues to be an active participant in the crypto space. Investors are now waiting to see how this investment will impact the value of $PEPE and the rest of the memecoin industry.

If Hayes continues to support $PEPE, as reported by Spot On Chain, there is high likelihood of the token attracting higher traffic and possibly increase in value in the next few days. Such steps may open the door toward learning memecoins as a viable investment within the dynamic space of cryptocurrencies.