Arthur Hayes Continues To Accumulate Meme Coins, Here’s Why

Arthur Hayes, the co-founder of the BitMEX crypto trade, has been accumulating meme cash this previous week. The crypto founder revealed that he’s attempting to create a meme coin portfolio forward of ‘Uptober,’ whereas asking his followers to advocate cash for him to purchase. Up to now, Hayes has principally purchased Solana cash, though Ethereum-based Pepe (PEPE) is his main meme holding.

Why Arthur Hayes Is Accumulating Meme Cash

The BitMEX co-founder revealed in an X put up that he was making a portfolio of meme cash contemplating that it’s about to be ‘Uptober,’ in reference to October, which is traditionally bullish for Bitcoin and the broader crypto market. Prior to now, Arthur Hayes recommended buying and selling these cash since Bitcoin was holding up nicely.

Due to this fact, Hayes believes that these cash are solely prone to preserve rising seeing as the present outlook out there is bullish heading into October. He revealed memes that he already purchased whereas asking his followers to shill him a few of their finest ones.

In response to him, he already owns Solana’s meme cash, MOTHER and MOG, and Ethereum’s PEPE, which is the third-largest meme by market cap. SpotOnChain data exhibits that he at the moment holds 24 billion PEPE tokens. The opposite cash look to be held in an undisclosed pockets.

In one other X put up, Hayes revealed that he had additionally purchased Smoking Hen Fish (SCF), one other Solana coin. In the meantime, he hinted that he purchased Ponke (PONKE), too. In addition to PEPE, the MOTHER coin is believed to be one of many crypto founder’s largest meme holdings. He earlier talked about doubling down on his place within the coin that Australian Rapper Iggy Azalea created. He acknowledged that the coin goes to a billion market cap.

Meme Cash Are Once more In The Highlight

These altcoins are once more within the highlight, particularly contemplating the eye they’re gaining from crypto traders like Arthur Hayes. Due to Bitcoin’s rally, these cash have additionally been having fun with vital rallies of their very own and even making life-changing features for traders. CoinGape not too long ago reported a few crypto investor that turned $1,300 into $12.45 million with Moo Deng, which simply launched seventeen days in the past on the Solana chain.

The foremost meme cash have additionally recorded vital features within the final seven days. Dogecoin has rallied 16% in one week amid Elon Musk’s help. Shiba Inu and PEPE, the second and third largest memes by market cap, have recorded bigger features, rising 35% and 32%, respectively, throughout this era.