Arthur Hayes, the creator of BitMEX, is making waves with his recent buying activity, which is perceived as a tactical shift in his investment portfolio. After spending a year investing in PENDLE, Hayes is now delving into emerging crypto trends, such as decentralized physical infrastructure networks (DePin) and meme coins.
This strategic foray into these sectors comes at an opportune moment. Meme coins, buoyed by a resurgence of market optimism, are witnessing substantial growth, while DePin continues to be a significant trend.
Arthur Hayes Acquires 24.39 Billion PEPE Tokens
On Friday morning during the Asian trading session, Arthur Hayes announced his intention to purchase meme coins, specifically naming three: Iggy Azalea’s MOTHER, the cat-themed cultural coin MOG, and PEPE.
“It’s time for a memecoin breakout. I hold my MOTHER in high regard, I MOG like no one else, but I can’t overlook PEPE,” Hayes stated.
According to blockchain analytics platform Spotonchain, Hayes proceeded to acquire 24.39 billion PEPE tokens, worth $252,000. Transactions of this size involving well-known figures in the crypto space often attract attention and can influence trader behavior.
“Following an ATH, Arthur Hayes has decided to accumulate the memecoin PEPE! In the past two hours, he deposited 1 million USDC to Binance and withdrew 24.39B PEPE ($252,000) to wallet 0x6cd for the first time,” Spotonchain reported.
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As reported by BeInCrypto, Hayes has recently shifted his focus from PENDLE to ATH, which now stands as his second-largest holding following Ethereum. These portfolio adjustments suggest that the BitMEX leader is realigning his investments toward both DePIN and meme coin narratives.
Following Hayes’ latest buy, the PEPE token has surged by over 18% since the start of Friday’s session, trading at $0.00001069 as of this writing.
PEPE isn’t alone in its surge today; major tokens in the meme coin sector, including DOGE, SHIB, WIF, FLOKI, and BONK, are all seeing significant gains, reflecting the prevailing sentiment in the wider market.
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