The post Arthur Hayes Continues To Accumulate Meme Coins, Here’s Why appeared on BitcoinEthereumNews.com.

Arthur Hayes, the co-founder of the BitMEX crypto exchange, has been accumulating meme coins this past week. The crypto founder revealed that he is trying to create a meme coin portfolio ahead of ‘Uptober,’ while asking his followers to recommend coins for him to buy. So far, Hayes has mostly bought Solana coins, although Ethereum-based Pepe (PEPE) is his major meme holding. Why Arthur Hayes Is Accumulating Meme Coins The BitMEX co-founder revealed in an X post that he was creating a portfolio of meme coins considering that it is about to be ‘Uptober,’ in reference to October, which is historically bullish for Bitcoin and the broader crypto market. Before now, Arthur Hayes recommended trading these coins since Bitcoin was holding up well. Therefore, Hayes believes that these coins are only likely to keep rising seeing as the current outlook in the market is bullish heading into October. He revealed memes that he already bought while asking his followers to shill him some of their best ones. According to him, he already owns Solana’s meme coins, MOTHER and MOG, and Ethereum’s PEPE, which is the third-largest meme by market cap. SpotOnChain data shows that he currently holds 24 billion PEPE tokens. The other coins look to be held in an undisclosed wallet. In another X post, Hayes revealed that he had also bought Smoking Chicken Fish (SCF), another Solana coin. Meanwhile, he hinted that he bought Ponke (PONKE), too. Besides PEPE, the MOTHER coin is believed to be one of the crypto founder’s largest meme holdings. He earlier mentioned doubling down on his position in the coin that Australian Rapper Iggy Azalea created. He stated that the coin is going to a billion market cap. Meme Coins Are Again In The Spotlight These altcoins are again in the spotlight, especially…

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Filed under: News - @ September 28, 2024 3:20 pm