Editing Murad

**Murad** (Murad Mahmudov, X: @MustStopMurad) is a crypto investor known for the "[[Memecoin supercycle|memecoin supercycle]]" thesis and for his large position in [[SPX6900]].[^1][^2]

## Background
Mahmudov is a former Bitcoin maximalist who ran the hedge fund Adaptive Capital, which shut down in 2020 after losing more than half its value in the March 2020 crash; the fund blamed BitMEX's infrastructure for its inability to exit.[^1] He presented the memecoin supercycle thesis at Token2049 in Singapore in September 2024.[^1][^2]

## Style
His thesis holds that memecoins with devoted, cult-like communities will outperform tokens with venture backing and products, and that culture and virality matter more than fundamentals.[^2][^3] He has said building such a community takes at least seven to eight months, and that he would sell some holdings in late 2025 or early 2026 and hold others through several cycles.[^3] He has suggested memecoins could reach $100 billion market caps.[^1] His public advice to followers has been to "stop trading and believe in something."[^1]

## Notable trades
- [[SPX6900]]: per DropsTab data reported in July 2025, his labelled wallets bought at an average of $0.01036 and showed an unrealised profit above $66 million when SPX traded at $2.24.[^2]
- Apu Apustaja (APU): his worst performer in the same data, down 53%.[^2]
- In July 2025 his labelled wallets held over $70 million in memecoins against about $1.86 million invested.[^2]

## Controversies
On 2024-10-09 [[ZachXBT]] published 11 addresses he said were linked to Mahmudov with "high confidence", holding about $24 million in memecoins on Ethereum and [[Solana]], so followers could watch for sales.[^1][^3] Critics called it doxxing without evidence of wrongdoing; others argued the data was public anyway.[^3] Mahmudov did not respond directly.[^1] Cointelegraph later reported ZachXBT's accusation that one wallet bought MIN about an hour before Mahmudov posted about acquiring 1% of its supply.[^2]

## See also
- [[List of memecoin traders]]
- [[Orangie]]
- [[Ansem]]
- [[Frank]]
- [[Cupsey]]
- [[Cented]]
- [[Unipcs]]
- [[Kimchi]]

## References
1. [Blockchain sleuth ZachXBT's doxxing of 'memecoin supercycle' promoter Murad Mahmudov's addresses sparks crypto community debate](https://www.theblock.co/post/320472/zachxbt-murad-mahmudov-memecoins), The Block, 2024-10-10
2. [Influencer who coined 'memecoin supercycle' sits on $68M profit, data suggests](https://cointelegraph.com/news/murad-mahmudov-memecoin-supercycle-spx-holdings-controversy), Cointelegraph, 2025-07-28
3. [To Doxx or Not to Doxx: Crypto Sleuth Reignites Fiery Debate](https://decrypt.co/285530/to-doxx-or-not-zachxbt-murad), Decrypt, 2024-10-09
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