Murad Says SPX6900 (SPX) Is Primed for a Rally — Is He Right This Time?

Crypto influencer Murad Mahmudov claims SPX6900 (SPX) is stabilizing at the same market cap level where Dogecoin (DOGE) and Pepe (PEPE) consolidated before their explosive rallies.

The Princeton-educated trader, often called the “Meme coin Messiah,” posted his analysis on X (Twitter) on April 5, arguing SPX will surpass both tokens.

The Stabilization Thesis

Murad pointed to what he sees as a repeating historical pattern among top meme coins.

• DOGE traded sideways at a relatively low valuation before surging to roughly $87 billion at its May 2021 peak.

• PEPE followed a similar trajectory, consolidating before climbing to approximately $12 billion.

SPX6900 now sits at around $244 million in market cap, a range Murad frames as the same type of accumulation zone.

“It’s fascinating to me that SPX6900 is stabilizing and flattening at the same market cap that DOGE and PEPE have stabilized before they proceeded to go to $87 Billion and $12 Billion respectively. Not a coincidence. Except this time SPX6900 will go much, much higher,” he stated.

Conviction Through Heavy Losses

The call comes despite significant personal drawdowns. Murad holds approximately 29.96 million SPX tokens, worth roughly $7.8 million, which represents 96% of his publicly tracked portfolio.

That portfolio peaked near $67 million in July 2025 before the broader meme coin sector corrected by over 80%.

He has not sold. On-chain data from Arkham Intelligence shows no meaningful exits from his SPX position despite nearly $60 million in unrealized losses.

SPX itself trades at approximately $0.26, down 88% from its all-time high of $2.27. Technical indicators remain bearish, with price sitting below key moving averages.

Whether Murad’s historical parallel holds will depend on whether fresh speculative capital rotates back into high-risk meme tokens in the months ahead.

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