We’ve all seen meme cash with no utility put up some unbelievable numbers. SPX6900 (SPX) is a well-liked instance, proving {that a} sturdy narrative and pure “degen” power could be greater than sufficient to provide a large rally in an identical solution to Dogecoin’s (DOGE) bull run in 2021.
However the market has gotten quicker and extra intense since then. Whereas DOGE constructed its neighborhood off of Elon Musk-driven hype, newer cash like SPX6900 are designed for explosive progress fueled by a chronically on-line, satire-first tradition.
The trick, in fact, is understanding when that hype is beginning to fade. And that is likely to be taking place to SPX6900 proper now, as its value has dipped considerably since July’s all-time excessive. Merchants at the moment are searching for different choices.
One low-cap meme coin that’s getting consideration on this regard is TOKEN6900 (T6900). As momentum cools on SPX6900, merchants are seeing TOKEN6900 as a significantly better long-term maintain – and a few even suppose it may 100x from at the moment’s value.
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Why Is SPX6900’s Worth Cooling Off?
You couldn’t ignore SPX6900 for some time there. The token has skilled an explosive rally since March, climbing over 790% in 5 months to hit an all-time excessive of $2.28. Its multi-chain setup and powerful meme narrative have made it one among this yr’s largest success tales.
However the momentum that drives a token up may reverse, and that’s precisely what we’re seeing occur proper now. Previously week, SPX6900’s value has slipped by 11%, and it’s at present hovering across the $1.12 mark.
So, what’s inflicting the sell-off? It’s a basic case of profit-taking combined with fading curiosity. Traders are cashing out their positive aspects, which creates downward stress. Plus, as is the case with most meme cash, buying and selling volumes inevitably drop as individuals search for the subsequent massive factor.
With the bears now in management, many former SPX6900 holders are rotating into completely different meme cash. TOKEN6900 (T6900) is benefiting from this development – as evidenced by yesterday’s explosive DEX launch.
TOKEN6900 – The New Meme Coin Capitalizing on Explosive Presale Success
TOKEN6900 is a brand new meme coin that shares the identical irreverent power that made SPX6900 such a success. The hype was already apparent, provided that TOKEN6900’s presale raised over $3.5 million. However the actual check got here with its DEX launch.
The token went dwell on Uniswap yesterday at 2pm UTC, and noticed some fast fireworks. After a slight sell-off (completely regular for a brand new meme coin launch), T6900 shortly discovered its footing. And following yesterday’s low, TOKEN6900 rallied 174% in simply two hours.
On the time of writing, the token’s value has pulled again barely to $0.0095 – nonetheless far increased than its presale value. Plus, greater than 5,200 individuals worldwide now maintain TOKEN6900.
What makes this launch so eye-catching is the workforce’s dedication. They’ve locked over $390,000 price of liquidity for 11 months – a sign that they’re right here for the long term. This association is designed to construct confidence for merchants looking for SPX6900-style returns.
May TOKEN6900 Be the Subsequent 100x Meme Coin?
The massive query on everybody’s thoughts is: May TOKEN6900 pull off a 100x rally from right here? Whereas nothing is ever assured in crypto – particularly relating to meme cash – T6900 appears set for much more progress.
TOKEN6900’s tiny launch value and low market cap of $8.5 million give it a large runway. Getting a 100x return from a market cap this low is much more achievable than it will be from a $1 billion valuation (as is the case with SPX6900).
The gasoline for such a transfer may come from a number of key sources. First up are main CEX listings. We’ve already seen proof that exchanges like Binance and Coinbase aren’t shy about itemizing “pure” meme cash, and a list on both of those platforms would expose TOKEN6900 to an infinite quantity of recent liquidity.
Plus, with This fall looming, many expect one other “meme coin season” like we noticed final yr. As a low-cap meme coin, TOKEN6900 is in an incredible spot to learn if that occurs. So, with SPX6900 wanting weak, the capital has to move someplace – and TOKEN6900 is a logical vacation spot.
This publication is sponsored. CryptoDnes doesn’t endorse and isn’t accountable for the content material, accuracy, high quality, promoting, merchandise or different supplies on this web page. Readers ought to do their very own analysis earlier than taking any motion associated to cryptocurrencies. CryptoDnes shall not be liable, straight or not directly, for any harm or loss brought about or alleged to be brought on by or in reference to use of or reliance on any content material, items or providers talked about.
