Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

BitMEX co-founder Arthur Hayes is increasing his bullish sentiment on both Dogecoin (DOGE) and Pendle (PENDLE) despite the sudden crypto downturn.

Hayes tells his 524,900 followers on the social media platform X that there remains more upside potential this cycle for memecoin DOGE and Pendle, which allows users to tokenize and sell future yields.

“I’m loving this choppy sideways to down shitcoin price action. I’m adding to my bags of PENDLE and DOGE.”

DOGE is trading for $0.12 at time of writing, up more than 2% in the last 24 hours. Meanwhile, PENDLE is trading for $5.65 at time of writing, up nearly 13% on the day.

Hayes, who is also an advisor for the Pendle project, was recently spotted locking up $8.4 million worth of PENDLE tokens until September 5 of this year.

PENDLE, the platform’s native token, can be used to earn rewards by those who provide liquidity to the protocol. Locking up PENDLE tokens can be done for up to two years and allows users to vote on governance proposals while also earning 3% of all the yield accrued by its yield-bearing tokens (YT).

Another project Hayes said he was bullish on is Ethereum (ETH) competitor Aptos (APT). Hayes predicts that the layer-1 (L1) smart contract blockchain Aptos will overtake Solana (SOL) this market cycle in one to three years.

Aptos is trading for $6.81 at time of writing, up more than 2% in the last 24 hours.

Comments

Post a Comment

Popular posts from this blog

Cardano: Analyst Predicts Timeline When ADA May Hit The Ambitious $2 Mark Cardano: Analyst Predicts Timeline When ADA May Hit The Ambitious $2 Mark

Image
Despite working hard on expanding its ecosystem, Cardano (ADA) has yet to encounter the bullish momentum of the market. The token is currently trading at a modest price level of $0.43, unable to break past barriers despite having market support. However, ADA is poised to undergo a radical fork upgrade, which is fueling hopes for its price to catapult and reach new highs. Dubbed the Chang Hard Fork, the deployment date is speculated to be set for July 2024, after which ADA may usher in a new price, ATH. Also Read: Cardano ( ADA ) To Spike $5.50 After Chang Fork Update? This Analyst Think So ADA To $2: How? Source: Finbold Per a notable crypto analyst, Sssebi on X, the Chang Hard Fork deployment is set to play a crucial role in determining the future price of Cardano. The fork deployment ushers in governance-centric options for the ADA community to explore. This will entail having a tailored approach to carving the future path of Cardano, which will involve active co...
Read more

AI forecasts XRP price for the end of 2023

Image
The legal uncertainties surrounding XRP delve into a complex web of regulatory challenges, particularly in the context of  Ripple‘s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).  This legal tussle revolves around the SEC’s assertion that XRP qualifies as a security, a classification vehemently contested by Ripple. The intricacies of this dispute not only impact XRP’s current market standing but also project a shadow of uncertainty over its future trajectory. The outcome of this legal skirmish in 2024 holds profound implications for XRP’s regulatory standing and, consequently, its market dynamics. Investors and market participants are closely monitoring these legal proceedings, as the resolution could potentially influence not only XRP’s valuation but also set precedent for the broader cryptocurrency landscape in terms of regulatory clarity. As we navigate towards the conclusive quarter of the year, Finbold has sought insig...
Read more

Dogecoin Price Prediction: DOGE Soars 171% In A Month, But Experts Say This Vote-To-Earn Meme Coin Might Be The Best Crypto To Buy Now

Image
The Dogecoin price soared 171% in the last month and 2% in the last 24 hours to trade at $0.4389 as of 11:40 p.m. EST on trading volume that climbed 40% to $11.3 billion. Dogecoin Price Gearing Up For A Bullish Rally Continuation After a parabolic surge in the Dogecoin price in November, DOGE has now consolidated within the $0.44 range, according to data from GeckoTerminal . The range has allowed the price of Dogecoin to form a double bottom pattern, which could still push DOGE further above. To add to the general bullish outlook, the Dogecoin price still trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as the immediate support levels. Meanwhile, the Relative Strength Index (RSI) is at 62 and climbing, which suggests there is still room for upward price action without the asset being considered overbought. The Moving Average Convergence Divergence (MACD) is also suggesting a continued upward trajectory, as the blue MACD line crosses above the o...
Read more