Arthur Hayes Bullish on Bitcoin and Meme Coins as Market Momentum Grows
- Arthur Hayes shifts his focus from $PENDLE to $ATH, signaling a major portfolio move, with $ATH now making up a majority of his holdings.
- Meme coins surge, with the $MOTHER token rising 31%, driven by Iggy Azalea’s upcoming ‘Motherland’ online casino launching in November.
- Hayes embraces meme coins like $MOTHER, urging traders to follow suit as Bitcoin and meme tokens rally after the Fed’s rate cuts.
Arthur Hayes, co-founder of BitMEX, has changed his stance on Bitcoin and meme coins, as seen in a recent X post. Hayes admitted he was wrong about predicting a Bitcoin crash following the Federal Reserve’s interest rate cuts.
He noted that Bitcoin held up well over the weekend, signaling his newfound bullish outlook on the broader crypto market. Hayes recommended trading meme coins, specifically referencing Iggy Azalea’s $MOTHER token while stating it’s time to “trade some dogshit meme coins.”
Hayes Shifts Focus to Meme Coins
Besides his change in sentiment on Bitcoin, Hayes made significant moves with his crypto holdings. In the past three days, he shifted his focus from $PENDLE to $ATH. According to Spot On Chain, Hayes deposited 1.595 million $PENDLE ($5.61 million) to Binance and Bybit.
In turn, he withdrew 16.478 million $ATH ($1.02 million) from OKX, Bybit, and KuCoin. His holdings now consist of 62.257 million $ATH ($4.1 million) and 493,463 $PENDLE ($1.98 million).
Moreover, meme coins have surged alongside Bitcoin since the Fed rate cuts, with tokens like Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), and Floki (FLOKI) experiencing double-digit gains.
Read CRYPTONEWSLAND on google newsThe $MOTHER token has also surged by 31%, driven by the announcement of Iggy Azalea’s upcoming online casino, ‘Motherland.’ Set to launch in November, the casino will utilize the $MOTHER token , adding utility to the coin.
The Volatile Nature of Meme Coins
However, it’s essential to note that meme coins have always been speculative assets. While Hayes has shifted his focus to these coins, market participants should exercise caution, as these tokens can be volatile. Nonetheless, Hayes’ recognition of meme coins highlights their growing relevance in crypto.
Additionally, Dogecoin could see a 45% rally if it breaks its $0.11 resistance, with its Relative Strength Index (RSI) already crossing key technical levels. Hence, meme coins, including Dogecoin, might continue gaining momentum as the market evolves.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
What Will Happen in the Bitcoin Price in the Coming Days? Has the Peak Been Reached or Is There Still Room to Rise? Here are the Opinions of the Anal
What kind of price movements will Bitcoin, the world's largest cryptocurrency, experience in the coming days? Here are the opinions.
This Artificial Intelligence Robot Keeps 40.000 Dollars in His Wallet: It Will Send It All To Whoever Convinces It
In the cryptocurrency world, different applications continue to emerge every day. This time, an artificial intelligence robot is on the agenda.
How Much Will Bitcoin Price Be in 2026? Analyst Reveals Prediction on Live Stream
Cryptocurrency analyst Mark Palmer made a statement predicting the Bitcoin price for 2026. Here are the details.
Standard Chartered: Stablecoins are increasingly used in traditional financial applications