Arthur Hayes Doubles Down on Meme Coins: ‘Dogshit’ But Still Worth Trading

Arthur Hayes, the outspoken co-founder of BitMEX, isn’t shying away from his love of meme coins, even if he calls them “dogshit.” The co-founder tweeted on Monday, mentioning Bitcoin’s performance and hinting at trading dog-themed meme coins like Shiba Inu.

.@IGGYAZALEA can you be my $MOTHER?

I was wrong $JPY weakening, $BTC held up well over the weekend. LFG, and let the good times roll.

Time to trade some dogshit meme coins.
— Arthur Hayes (@CryptoHayes) September 23, 2024

However, his remark followed his public endorsement of Shiba Inu (SHIB) in March 2024, highlighting his growing focus on meme coins. Hayes voiced support for Shiba Inu during the launch of its “SHIB Names” initiative. The initiative allows users to create unique identifiers on the Shiba Inu blockchain and aims to improve decentralized identity services within the ecosystem.

Fuck yeah. Dog money is taking over the internet. https://t.co/3ug91iy0Wn
— Arthur Hayes (@CryptoHayes) March 7, 2024

Hayes stated at the time, “Dog money is taking over the internet.” His backing of Shiba Inu came as the coin made strides to move beyond its origins as a meme coin, evolving into a project with growing utility in decentralized finance (DeFi) and Web3.

Hayes’ Take on “Dog Money”

Hayes used the term “dog money” to describe dog-themed meme coins like Shiba Inu and Dogecoin, pointing out their growing presence in the cryptocurrency market. He views these coins as increasingly relevant in the decentralized web. His endorsement of Shiba Inu reflects his ongoing interest in the potential role of meme coins in shaping this space.

Shiba Inu has gained attention for its efforts to expand its ecosystem, integrate DeFi services, and attempt to move past its meme coin origins. Hayes’ support comes at a time when the cryptocurrency has worked to solidify its place in these emerging sectors as it seeks to establish a lasting role in the Web3 and DeFi movements.

Meanwhile, many crypto analysts have also given their take on SHIB’s future. Last week, Crypto Sheriff declared, “SHIB will be huge,” hinting at the potential for significant gains in the near future, The Shib Daily reported.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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