Murad
| Murad | |
|---|---|
 | |
| Person | |
| X | @MustStopMurad |
| Also known as | MustStopMurad Murad Mahmudov |
| Role | trader |
| Known for | The "memecoin supercycle" thesis; largest-known SPX6900 holder |
| Status | Active |
Murad (Murad Mahmudov, X: @MustStopMurad) is a crypto investor known for the "memecoin supercycle" thesis and for his large position in SPX6900.[1][2]
Background[edit]
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[edit]
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[edit]
- 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[edit]
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[edit]
References[edit]
- ^ Blockchain sleuth ZachXBT's doxxing of 'memecoin supercycle' promoter Murad Mahmudov's addresses sparks crypto community debate, The Block, 2024-10-10
- ^ Influencer who coined 'memecoin supercycle' sits on $68M profit, data suggests, Cointelegraph, 2025-07-28
- ^ To Doxx or Not to Doxx: Crypto Sleuth Reignites Fiery Debate, Decrypt, 2024-10-09