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- Arthur Hayes took a $47K loss after exiting his investments in PEPE and MOG.
- Hayes had invested about $500K in these tokens but quickly pulled out.
- The meme coin market cap dropped 4% to $45.05 billion.
BitMEX co-founder Arthur Hayes, also known for his interesting bets and takes on meme coins, seems to have accepted a loss on his fresh trades. He recently accumulated PEPE after ditching Aethir (ATH) and even took his shoot on MOTHER.
The meme crypto category cumulatively saw a decline lately as the biggest of the tokens fell short of the bullish hopes. The total meme coins market cap dropped by more than 4% in the last 24 hours to stand at $45.05 billion.
Hayes ditches PEPE and MOG
According to the data shared by Spot On Chain, Arthur Hayes took a loss of around $47,000 in a quick exit from two meme cryptos. He had invested in PEPE and MOG over the last 6 days. However, both of the tokens recorded a 10% price drop in the last 24 hours.
BitMEX co-founder bought 24.39 billion PEPE (approx. worth $252.5K) on September 27, while he bagged 167.5 billion MOG (approx. worth $244.7K) just a day before. He spent around half a million dollars on these trending meme coins.
Hayes reportedly had deposited all 24.39 billion PEPE (approx. worth $230K) and 167.5 billion MOG (approx. worth $223K) back to Binance and Bybit, respectively.
PEPE price is still up by 21% in the last 30 days despite registering a dump of 10% over the last 24 hours. Its 24-hour trading volume also took a hit of 34% to stand at $1.18 billion. PEPE is trading at an average price of $0.00000921, at press time.
MOG is also standing strong with a 47% gain in the last 30 days while watching a decline of 10% in the past 24 hours. MOG price is up by solid 3,388% on the year to date (YTD) index. MOG is trading at an average price of $0.00000139 with a trading volume of $19.4 million.
Will Hayes stand with MOTHER now?
Earlier, Arthur Hayes had stated that “We’re on the brink of a meme coin breakout,” and then he went all-in with some wild choices. Meanwhile, the biggest of the meme coins printed red indexes as Bitcoin (BTC) struggles to regain the $62,000 mark.
Hayes even tweeted at Iggy Azalea, the creator of $MOTHER, asking if she could be his “mother”, a bold show of support for her meme coin. MOTHER price is now down by over 30% in the last 7 days. Its 24-hour trading volume is down by 22% to stand at $15 million.
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Ashish Kumar
Ashish Kumar is a dedicated journalist with over four years of experience in covering breaking news, regulatory developments, and market trends in the crypto space. He holds a Master’s degree in Journalism from IIMC. He has held senior positions at Coingape and Todayq while delivering timely and insightful content that resonates with both industry insiders and the broader audience.
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