Arthur Hayes, co-founder and former CEO of the cryptocurrency trading platform BitMEX, has recently made headlines with significant investments in the memecoin sector, particularly through his notable purchase of Pepe (PEPE).\u00a0<\/p>\n
Hayes\u2019 optimism towards memecoins, expressed in a recent social media post<\/a> on X (formerly Twitter), has coincided with a significant surge in PEPE\u2019s value, reflecting a broader resurgence in interest within the crypto market.<\/p>\n On-chain analytics platform Lookonchain revealed <\/a>that Hayes invested $250,000 in PEPE by purchasing approximately 24.39 billion tokens on Binance on Friday. This investment comes as PEPE is experiencing a notable upward trajectory, reaching its highest price in nearly three months at $0.0000109.\u00a0<\/p>\n CoinGecko data <\/a>shows that the token has recorded impressive gains of 34%, 45%, and 38% over the past week, two weeks, and month, respectively. The recent price movements of PEPE are further supported by a substantial increase in trading volume, which surged by 41% in the last 48 hours to nearly $2.5 billion.<\/p>\n This uptick in trading activity is indicative of heightened investor interest, likely fueled by a bullish sentiment following the US Federal Reserve\u2019s decision <\/a>to cut interest rates on September 18, which has provided a favorable environment for various cryptocurrencies, including the memecoin sector.<\/p>\n Currently trading at $0.0000107, PEPE is up 17% in the latest trading hours. However, it remains down 37% from its all-time high of $0.0000171 reached in May. Despite this decline, Hayes\u2019s endorsement appears to be a catalyst <\/a>for continued investor interest.<\/p>\n Hayes\u2019s involvement in the memecoin space extends beyond PEPE. He has also shown support for two other tokens: Mog Coin (MOG) and the Mother Iggy (MOTHER) token, associated with Australian singer Iggy Azalea and built on the Solana blockchain<\/a>.\u00a0<\/p>\n While Lookonchain has not confirmed whether Hayes invested in these tokens as he did with PEPE, his endorsement has already positively impacted MOG\u2019s price, which is currently trading at $0.00000165\u2014a gain of over 10% following Hayes\u2019s announcement.<\/p>\n MOG has recorded a colossal year-to-date surge of 10,398%, alongside a 5.70% increase in trading volume. Despite these gains, it remains 32% below its peak of $0.0000024 reached in July.<\/p>\nPEPE Price Soars Following Hayes\u2019 Investment<\/h2>\n
Support For Mog Coin And The Mother Iggy Token<\/h2>\n