Meme Coin News: Whales increase the price of MOODENG, and Arthur Hayes

Posted by cryptonews Crypto News September 30, 2024 1.6k Views

Whales have invested millions in MOODENG, resulting in a 400% increase in just two weeks. Gotbit and SunPump join hands, while Arthur Hayes expands his meme coin portfolio.

Get your weekly, bite-sized digest of meme coin news – this week, we take a look at MOODENG, Arthur Hayes’ latest purchases, and more!

This week read about:
• Meme Coin News: Market Highlights
• MOODENG Surges 400% as Whales Pour in Millions
• Gotbit Hedge Fund and SunPump Partner to Bolster Meme Coin Space
• Arthur Hayes Buys PEPE, MOG, PONKE

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Meme Coin News: Market Highlights

Over the past 24 hours, the meme coin market capitalization has decreased by 3% to $55 billion.

Most meme coins have seen their prices drop in this period.

Neiro on ETH (NEIRO) recorded the highest loss of 16.4% to $0.072.

Next up is Bellscoin (BEL) with a 15.4% drop to $0.9031 and Basenji (BENJI) with a 12.9% fall to $0.02441.

Three more coins marked double-digit decreases, while the rest are down below 8% each.

On the other hand, the day’s winner is Smoking Chicken Fish (SCF), which is up 30.7% to the price of $0.09412.

It’s followed by Baby BNB (BABYBNB)’s 30% rise, while the other coins on the green list saw increases below 20%, most below 5%.

Only four of the top 10 coins have seen their prices turn green in this timeframe.

Dogwifhat (WIF) sits at the top of this list, with a nearly 6% rise to the price of $2.44.

BONK and MEMECOIN follow, with a 4% and 3% rise, respectively, while PEPE increased less than 0.5%.

On the red side, Baby Doge Coin (BABYDOGE) fell the most in this category (6%), followed by TURBO (4.7%).

The top two coins per market cap are also down today. Dogecoin (DOGE) fell 2.9% to $0.12265, while Shiba Inu (SHIB) decreased by 3.84%, trading at $0.00002.

MOODENG Surges 400% as Whales Pour in Millions

The recently launched Moo Deng (MOODENG) coin has seen quite a surge in popularity – and its price – over the past week.

The Solana-based coin was launched on September 11, less than 20 days ago. It’s inspired by the super-cute Thai baby pygmy hippo named Moo Deng.

Let’s talk price.

Over the last 24 hours, MOODENG appreciated 5.8%, trading at $0.2355.

Notably, in the last week, it surged 406%.

It actually hit its all-time high of $0.3387 on September 28, falling 28% since.

With this weekly increase, it is outperforming the crypto market in general and the meme coin market in particular.

Source: coingecko.com

Most traders, interestingly, purchase and sell the coin on XT.COM. With $4.2 million worth of trades in the last day, MOODENG/USDT is the most active trading pair on the exchange.

Its trading volume over a 24-hour period is $152.9 million. It is ranked 262nd with a circulating supply of 990 million MOODENG and a market capitalization of $233.56 million.

A trader at MOODENG made a significant global news splash by turning a $1,300 investment into $3.4 million, as reported by TradFi and cryptocurrency publications.

Many, however, also commented on the legitimacy of the gain and the probability of cashing it out.

And this person wasn’t the only one making major gains.

Notably, whales keep pouring in thousands – even millions – into the project.

Others weren’t as lucky, missing the opportunity to profit. Such is the way of the trade.

Note: The market is volatile and prices drop fast. Make sure to always do your research before investing and never invest more than you are prepared to lose.

Gotbit Hedge Fund and SunPump Partner to Bolster Meme Coin Space

Gotbit Hedge Fund, a performance-driven market maker, and SunPump, a TRON blockchain-based launchpad for meme coins, have announced a partnership aimed at bolstering the meme coin community.

The press release states that the partners want to promote innovation and growth for projects involving meme coins.

It has been “a consistent supporter” of SunPump’s meme projects, according to Gotbit Hedge Fund.

It therefore intends to enhance market prospects for these projects by fusing SunPump’s vision with its resources and market-making know-how.

“This official partnership marks one more step in their shared commitment to expanding the meme coin space,” the duo said.

The memecoin industry is “taking on a life of its own,” which is a “fascinating” trend that we are currently witnessing, according to Alex Andryunin, the founder and CEO of Gotbit Hedge Fund. It is expanding independently of the larger cryptocurrency market.

“Multiple chains are now positioning themselves for the next surge, drawing in new waves of retail investors, becoming hotspots of meme token activity, and signaling many exciting launches ahead,” said the CEO.

According to Andryunin, this partnership will aid in this change.

“Working together, we will do our part in building a sustainable meme coin environment that can thrive for a long time to come,” he added.

Arthur Hayes Buys PEPE, MOG, PONKE

The former CEO of BitMEX and multibillionaire Arthur Hayes recently revealed that he is assembling his meme coin portfolio and requested investment recommendations from his subscribers.

He noted that ‘UPtober’ is on its way – a month of the bullish crypto market.

According to the co-founder, he has made investments in MOTHER, MOG, and PEPE thus far.

Shortly after publishing that post, he declared he had bought some MOG.

Hayes invested about $252,680, or 24.39 billion PEPE, on the cryptocurrency exchange Binance, according to Lookonchain.

Following this, on September 28, he announced another purchase, saying he added PONKE to the list.

When it is announced that a famous person has contributed to the project, the coins usually appreciate, at least at first.

PEPE is up 36.5% in a week, but it has decreased by about 1% in the last 24 hours. In fact, September 26 and 27 saw increases in it.

While PONKE gained roughly 8% in a day and 14% in a week, MOG is down nearly 1% in a day but up 30% in a week.

In the same periods, celebrity Iggy Azalea’s MOTHER increased by 59% and 0.5%, respectively.

That being said, Hayes’ investment did not account for all of the increases. Ultimately, a lot of other meme coins have seen increases as well.

Still, there is a chance that his involvement played a part.

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