Yikes! Arthur Hayes Realizes $47K Loss In Just 6 Days After Predicting Meme Coins PEPE, MOG Are Ready For A 'Breakout'
Portfolio Pulse from Khyathi Dalal
Arthur Hayes, co-founder of Bitmex, incurred a $47,000 loss on meme coins PEPE and MOG after predicting a breakout. Despite his endorsement, these coins dropped significantly in value. This incident underscores the volatility of meme coin investments.
October 03, 2024 | 5:46 pm
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NEGATIVE IMPACT
Arthur Hayes' investment in PEPE resulted in a loss as the coin's value dropped 12% after his prediction of a breakout. This highlights the volatility and risk associated with meme coin investments.
Arthur Hayes' public endorsement and investment in PEPE did not prevent a 12% price drop, leading to a significant loss. This suggests a negative short-term impact on PEPE's price due to its volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80