Hayes Flips Monad Stance: From Bullish to 'Send This Dogshit to Zero'

BitMEX co-founder Arthur Hayes has reversed his bullish stance on the Layer 1 project Monad, calling its token 'dogshit' and urging followers to 'send this to zero.' This about-face comes just one day after he predicted that the MON token would hit $10.

Hayes initially posted that he had bought into the project, describing it as a 'low float, high FDV useless L1,' but also urged his followers to send the token to $10. However, on Thursday, he suddenly reversed his stance, saying 'I'm out. Send this dogshit to ZERO!'

Hayes' rapid flip highlights the issue of high-profile traders moving prices through public commentary without accountability for the financial consequences faced by retail followers.

The MON token debuted at $0.042 and rallied 40% in 24 hours before experiencing volatility, with its mainnet launching earlier this week after raising $225 million from Paradigm, Dragonfly Capital, and Coinbase Ventures at a $3 billion valuation.