Crypto Trader Turns $153K Into $6.4M In Two Months With SPX6900, Securing 42X Gains

The
meteoric
rise
of
meme
coin


SPX6900

helped
a
savvy
crypto
trader
turn
a
$153,000
investment
into
a
staggering
$6.44
million
in
just
two
months,
securing
a
42x
return.

The
whale
investor
bought
7.793
million
$SPX
for
$153k
between
July
31
and
Aug.
15,
Spot
On
Chain
said
in
an
Oct.
14
post
on
X.

With
7.15
million
$SPX
tokens
still
in
hand,
the
trader’s
remaining
holdings
are
valued
at
about
$5.91
million.

A
whale
with
a
$6.44M
profit
(42x
return)
is
cashing
out

$SPX!

Notably,
the
whale
spent
just
$153K
to
buy
7.793M

$SPX
between
Jul
31
and
Aug
15.

With
the
recent
price
surge,
the
whale
began
unloading

$SPX
11
hours
ago,
totaling
793,092

$SPX
($687K)
sold
for
280.5

$ETH,
leaving…

pic.twitter.com/a0XNbedeMU

—
Spot
On
Chain
(@spotonchain)

October
14,
2024

SPX6900
(SPX)
is
an
ERC-20
parody
meme
coin
of
the
stock
index
S&P
500,
which
tracks
the
500
largest
companies
in
the
US.
The
meme
coin
launched
over
one
year
ago
and
remained
stagnant
for
about
391
days
before
its
meteoric
rise
began.

SPX6900
Soars
3,000%
While
Markets
Remain
Choppy

The
SPX
price
has
skyrocketed
by
about
3,000%
since
Sept.
17,
when
it
first
broke
above
the
year-long
consolidation
zone.
In
just
27
days,
the
meme
coin
has
soared
to
market
capitalization
of
$773
million,
from
$24
million,
and
is
now
the
17th
largest
meme
coin.

The
SPX
price
pump
came
despite
the
broader
crypto
market
remaining
largely
flat
during
the
same
period,
with
Bitcoin
range
bound.

The
SPX
price
is
trading
at
$0.8303
as
of
8.48
a.m.
ET,
down
10.8%
in
the
last
24
hours,
according
to


CoinGecko
data. 

SPXUSDT
Chart
Analysis
(Source:
Tradingview)

Murad
Mahmudov
Made
61x
Return
On
SPX6900
In
Four
Months

Controversial
trader
Murad
Mahmudov,
with
more
than
275k
followers
on
X,
also


made
hefty
returns

from
SPX.
Investing
$387,000,
he
turned
it
into
$23
million
in
just
four
months,
a
61x
increase.

Murad
recently
shared
on
his
X
account
that
the
market
is
in
a
meme
coin
supercycle
and
that
“2025
will
be
the
year
where
meme
coins
go
parabolic.”

If
you’re
going
to
watch
ONE
video
during
this
Memecoin
Supercycle…
Watch
this.

2025
will
be
the
Year
where
Memecoins
go
Parabolic.

Watch
this
Video
to
Understand
Why.

pic.twitter.com/7JgMyOHdCp

—
Murad
????????
(@MustStopMurad)

September
27,
2024

But
last
week,
on-chain
investigator
ZachXBT
alleged
that
Mahmudov
promotes
microcap
meme
coins
while
controlling
their
supply.

In
an

Oct.
9
post
on
X,
ZachXBT
identified
11
Ethereum
and
Solana
wallets
he
said
are
linked
to
Mahmudov,
which
collectively
hold
over
$24
million
in
assets,
raising
concerns
about
transparency
and
potential
conflicts
of
interest
in
his
promotional
activities.

“Murad
is
promoting
microcap


meme
coins

to
thousands
and
thousands
of
followers
while
controlling
the
supply
and
making
very
lofty
predictions,”
ZachXBT
said.
“People
deserve
to
know
the
wallets
so
they
can
make
informed
decisions.”

Looking
For
The
Next
Meme
Coin
To
Explode

Investors
looking
for
the
next
meme
coin
gems
often
turn
to
presales.
Among
analyst
favorites
right
now
are


Pepe
Unchained
(PEPU),
which
has
rocketed
past
$19.4
million
in
funds
raised
in
its
blockbuster
presale,

and


Crypto
All-Stars
(STARS),
which
is
offering
an
annual
staking
yield
of
652%. 

Pepe
Unchained
seeks
to
liberate
PEPE
from
the
constraints
of
its
outdated
Layer
1
infrastructure,
and
will
thus
operate
on
its
own
proprietary
Ethereum
Layer
2
blockchain.
YouTuber
Austin
Hilton
said
recently
that
the
PEPU
presale

might
be
the
best
meme
coin
launch
of
all
time.

Crypto
All-Stars
is
an
innovative
new
project
that
allows
investors
to
stake
multiple
top
meme
coins
on
one
platform
via
its
breakthrough
MemeVault
protocol.

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