[DigitalToday reporter Jinju Hong] Crypto influencer Murad Mahmudov (무라드 마무도프) claimed memecoin SPX6900 (SPX) has entered a stabilisation phase ahead of an upward rally.
BeInCrypto, a blockchain media outlet, reported on April 5 that Murad posted analysis on X, formerly Twitter, suggesting SPX6900 is flattening at the market-cap level where Dogecoin (DOGE) and Pepe (PEPE) moved sideways before their sharp rises.
Murad’s logic is aligned with a market-cap-based pattern he said past memecoins have repeatedly shown. He viewed major memecoins as having gone through an accumulation phase, when price action and trading turned quiet in a certain market-cap band, before surging. SPX6900’s market capitalisation is currently about $244 million, which Murad interpreted as having the same character as the “accumulation zone” where DOGE and PEPE stayed before their rallies.
“SPX6900 is moving sideways at the same market cap where DOGE and PEPE each stabilised before going to $87 billion and $12 billion,” he said. “It is not a coincidence. This time, SPX6900 will go much, much higher.”
Such claims also intersect with his large unrealised losses. Murad holds about 29.96 million SPX, worth about $7.8 million, accounting for 96 percent of his publicly tracked portfolio. That portfolio swelled to about $67 million in July 2025 before plunging as the broader memecoin sector corrected by more than 80 percent.
Even so, Murad did not reduce his holdings. The outlet said that Arkham Intelligence on-chain data also showed no meaningful exit from his SPX position despite unrealised losses of about $60 million.
Market price action remains closer to bearish. SPX is trading at about $0.26, down 88 percent from its all-time high of $2.27. Technical indicators also show bearish signals persisting as the price stays below key moving averages, it said.
Whether Murad’s historical similarity holds will ultimately depend on money flows. The outlet said a key variable is whether speculative funds return to high-risk memetokens over the coming months.
