Hayes Flips on Monad, Calls Token 'Dogshit'

Arthur Hayes, co-founder of BitMEX and one of the most influential figures in cryptocurrency, made headlines this week when he reversed his stance on Monad's token. Initially, Hayes predicted that MON would reach $10, but just a day later, he called it 'dogshit' and urged followers to 'send this to zero.'

Hayes had bought into the project despite describing its tokenomics as problematic, with low circulating supply and high fully diluted valuation. His initial tweet criticizing these issues was followed by his statement that he had invested in MON anyway.

The rapid flip highlights a persistent issue in crypto: the power of high-profile traders to move prices through public commentary, often without accountability for the financial consequences faced by retail followers. Unlike traditional financial advisors, crypto influencers operate without regulatory oversight and can post bullish calls that may be reversed quickly, leaving retail traders struggling to keep up.

Monad's mainnet launched earlier this week after raising $225 million from investors at a $3 billion valuation. The MON token debuted at $0.042 and rallied 40% in 24 hours before experiencing volatility.