Famous CEO and trader added those 2 Altcoins to his portfolio!

Arthur Hayes, one of the biggest and most influential names in the cryptocurrency market, has announced that he will purchase Dogecoin (DOGE) in the volatile market. Hayes also adds the Pendle altcoin (PENDULUM) to your wallet. Here are the details…

Hayes has added two altcoin projects to his portfolio

Arthur Hayes, founder and former CEO of BitMEX, announced that he has invested in two altcoins. These were DOGE and PENDLE. Currently, DOGE price is hovering around $0.1249 according to TradingView charts. DOGE, which has been trending lower recently, has broken above the 200-day EMA and the 50-day EMA, which are important moving averages. Due to this bearish trend, DOGE is having difficulty finding solid support. A break of the 200-day EMA, which often serves as a key support level, could lead to further selling pressure.

However, the reason why Hayes wants to buy now is the RSI (Relative Strength Index), which is currently in effect trade around 32, indicating the oversold zone. This could suggest that the sell-off may have reached its limit and that a recovery is approaching. There is also an increase in transaction activity relative to volumes. This could indicate that more investors are betting on these lower prices. Especially in oversold territory, an increase in volume is often seen as a reversal signal.

This move by Hayes caught the attention of both of them DOGE and PENDLE investors. It was a matter of curiosity whether DOGE would recover in the short term and how PENDLE would perform in the coming period. These developments have left their mark on the agenda of those who follow the cryptocurrency markets closely. In particular, Hayes explained that he likes the lateral and downward mobility of Shitcoins in the market. He then states that he will continue to purchase DOGE and PENDLE.

What does the price indicate?

Hayes’ purchase of DOGE during this period may have been a calculated strategic move, hoping for a rebound from oversold conditions. Self DOGE can stabilize at these levels and find support, a return to previous resistance levels around $0.1446 and $0.1511 can be considered. Furthermore, Hayes’ statement and influence could increase market sentiment by encouraging more investors, which could push the price higher. However, it should be underlined that DOGE’s performance will also be significantly influenced by the general market situation, which is not very positive at the moment.

Hayes is a name known for announcing his investment decisions on his Twitter account. After tweeting under the username CryptoHayes, it was discovered that one of Hayes’ wallets had purchased 92,339.6 PENDULUM (approximately $554,000) via Wintermute. It is known that for this transaction 2.05 million USDC was transferred to Wintermute, and in exchange 280 ETH (approximately $1 million) and 92,339.6 PENDLE were received.

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