Crypto influencer Murad Mahmudov claims SPX6900 (SPX) is stabilizing on the identical market cap stage the place Dogecoin (DOGE) and Pepe (PEPE) consolidated earlier than their explosive rallies.
The Princeton-educated dealer, typically referred to as the “Meme coin Messiah,” posted his evaluation on X (Twitter) on April 5, arguing SPX will surpass each tokens.
The Stabilization Thesis
Murad pointed to what he sees as a repeating historic sample amongst high meme cash.
- DOGE traded sideways at a comparatively low valuation earlier than surging to roughly $87 billion at its Could 2021 peak.
- PEPE adopted an analogous trajectory, consolidating earlier than climbing to roughly $12 billion.
SPX6900 now sits at round $244 million in market cap, a variety Murad frames as the identical sort of accumulation zone.
“It’s fascinating to me that SPX6900 is stabilizing and flattening on the identical market cap that DOGE and PEPE have stabilized earlier than they proceeded to go to $87 Billion and $12 Billion respectively. Not a coincidence. Besides this time SPX6900 will go a lot, a lot larger,” he said.
Conviction Via Heavy Losses
The decision comes regardless of vital private drawdowns. Murad holds roughly 29.96 million SPX tokens, price roughly $7.8 million, which represents 96% of his publicly tracked portfolio.
That portfolio peaked close to $67 million in July 2025 earlier than the broader meme coin sector corrected by over 80%.
He has not offered. On-chain knowledge from Arkham Intelligence exhibits no significant exits from his SPX place regardless of practically $60 million in unrealized losses.
SPX itself trades at roughly $0.26, down 88% from its all-time excessive of $2.27. Technical indicators stay bearish, with value sitting under key transferring averages.
Whether or not Murad’s historic parallel holds will rely on whether or not contemporary speculative capital rotates again into high-risk meme tokens within the months forward.
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