PEPE rises as Arthur Hayes trades in meme coins.
PEPE's value rose 14% as meme coins surged, with Floki and Shiba Inu among the top earners.
As Arthur Hayes PEPE withdraws $250,000 from Binance, the value of PEPE increases.
Hayes is also featuring Mother Iggy (Mom) and Mog Coin (MOG).
The price of PEPE rose more than 14% in 24 hours as the meme coin reacted to a big bet from Arthur Hayes. The rise follows recent hits with Dogwhiphat and Sey for PEPE.
At the time of writing, the frog-themed meme coin was trading at $0.00001047, clearing one zero from its intraday high of $0.00001071. Pepe's turnover rose 34 percent to $1.3 billion.
These developments, which came as Bitcoin rose above $65k and top altcoins sought to mirror it, saw PEPE among the day's top earners in the top 100 of the market cap category.
Pepe's market cap was $4.4 billion, up 14 percent in 24 hours. In terms of top earners among the 100 largest coins by market capitalization, PEPE ranks after Wormhole (W) and its price increased by 17% to $0.32.
FLOKI, another flying meme coin, is up 14%, while Shiba Inu (SHIB) is also up 13% in the last 24 hours, outperforming most altcoins.
PEPE price rises amid Arthur Hayes bets.
The meme coin market is so crowded, Solana-based baby hippo meme MU DENG (MOODENG) surpasses all the top 500 coins by market value. However, many other note coins are also seeing good profits as traders play faster.
Crypto analyst Rect Capital PEPE has signaled a recent bearish rally.
$PEPE
PEPE also broke the multi-month downtrend #PEPE #crypto #BTC pic.twitter.com/bF1Df1rcAK
— Rekt Capital (@rektcapital) September 27, 2024
PEPE attracted the attention of Arthur Hayes, the former CEO of BitMEX who recently added Aethir (ATH), a decentralized cloud infrastructure platform for gaming and artificial intelligence.
Also adding to his ATH position with another $1.5 million purchase on Friday, Hayes bought $250,000 worth of PEPE. The crypto investor and entrepreneur discovered meme coins on crypto exchange Binance.
Aside from PEPE, Hayes recently spoke about Mother Iggy (Mother) and Mog Coin (MOG).
It's memecoin crash time. I respect my mom, I don't like $MOG as much as anyone else, but I can't ignore $PEPE.
Yachtzee Bitches!😘😘😘😘😘😘
— Arthur Hayes (@CryptoHayes) September 27, 2024
