bullish

Arthur

PEPE

<ul>
 <li>Arthur Hayes faced a $47K loss from meme coins PEPE and MOG, selling after a sharp 10% price drop in just six days.</li>
 <li>PEPE gained 21% over the past 30 days but dropped 10% recently, while MOG surged 3,388% YTD despite volatility.</li>
 <li>Hayes remains bullish on meme coins but his $500K investment in PEPE and MOG resulted in a loss amid market swings.</li>
</ul>
<p>Arthur Hayes, the co-founder of BitMEX, exited from meme coins PEPE and MOG, incurring a loss of $47,000. Hayes invested approximately $500,000 in these tokens on September 27, 2024, after showing strong public support on Twitter.&nbsp;</p>
<p>His investments, 24.39 billion PEPE worth $252,507 and 167.5 billion MOG valued at $244,718, were deposited into Binance and Bybit. Six days later, both tokens dropped by 10%, prompting Hayes to sell them for a combined loss.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/spotonchain/status/1841651962917617815
 </div>
</figure>
<h2 class="wp-block-heading" id="h-pepe-and-mog-market-activity">PEPE and MOG Market Activity</h2>
<p>Hayes sold his entire PEPE holdings for $229,771, resulting in a $22,737 loss. MOG also showed a similar trend, with the sale resulting in a realized loss of $22,189. The price drop over a six-day period led to this quick exit.</p>
<p>Besides, PEPE saw an upward trend in the last 30 days, gaining 21%, but fell by <a href="https://coinmarketcap.com/currencies/pepe/" rel="noopener noreferrer nofollow">8.37%</a> within the past 24 hours. MOG has recorded even greater success, with a 47% increase in the last month and an impressive 3,388% rise year-to-date.</p>
<p><a href="https://cryptonewsland.com/solana-investor-turns-815-into-9-4-million-with-moodeng-meme-coin-surge/" rel="noopener noreferrer nofollow">Meme coin investments</a> have always been volatile, and Hayes’ quick entry and exit reflect the risks in this space. PEPE and MOG both registered sharp price declines, but their longer-term performance shows strength.&nbsp;</p>
<p>PEPE still has a 30-day gain and an active trading volume of $1.18 billion, indicating ongoing interest. On the other hand, MOG’s price has surged this year, although its trading volume has dipped to $19.4 million.</p>
<h2 class="wp-block-heading" id="h-arthur-hayes-investment-strategy">Arthur Hayes' Investment Strategy</h2>
<p><a href="https://cryptonewsland.com/arthur-hayes-bullish-on-bitcoin-and-meme-coins-as-market-momentum-grows/" rel="noopener noreferrer nofollow">Hayes has remained bullish on meme coins</a>, even tweeting, “We’re on the brink of a meme coin breakout,” showing confidence in their potential. However, his recent loss demonstrates the inherent risk of short-term trades in this volatile market.</p>
<p>Additionally, Hayes’ public <a href="https://x.com/CryptoHayes/status/1838067229151412572" rel="noopener noreferrer nofollow">support</a> for $MOTHER, a meme coin created by rapper Iggy Azalea, raised eyebrows. MOTHER has seen a decline, losing 30% in the past week, with trading volume dropping by 22%.</p>
<p>The post <a href="https://cryptonewsland.com/arthur-hayes-takes-47k-hit-after/" rel="noopener noreferrer nofollow">Arthur Hayes Takes $47K Hit After Quick Exit from PEPE and MOG Meme Coins</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Arthur Hayes Takes $47K Hit After Quick Exit from PEPE and MOG Meme Coins

Table of Contents

Crypto News Land

Other articles published on Oct 3, 2024

Join our free newsletter for daily crypto updates!