Editing SPX6900

**SPX6900** (ticker **SPX**) is an Ethereum memecoin launched in August 2023 that parodies the S&P 500 stock index. Its manifesto calls it "the stock market for the people".[^1][^6] It became the largest holding of [[Murad]] Mahmudov, who promoted a "[[Memecoin supercycle|memecoin supercycle]]" at Token2049 Singapore in September 2024.[^2][^3]

## Lore
SPX has a total supply of 930 million tokens. Its manifesto describes it as "the S&P500 with 6400 more", and its community popularised the line "stop trading and start believing in something".[^1] Murad called it "the next GME" and argued it could overtake Dogecoin's market cap.[^1]

SPX set a high of 90 cents in November 2024. On 3 January 2025 it passed $1.1 billion in market cap and a price above $1.25.[^1] It traded at $2.24 on 28 July 2025.[^4] By April 2026 its market cap was about $250 million, after the memecoin sector fell more than 80% from its highs.[^5]

## Timeline
- 2023-08-16: first Uniswap pool opens on Ethereum[^6]
- 2024-09: Murad presents the "memecoin supercycle" at Token2049 Singapore[^3]
- 2024-10-09: ZachXBT publishes wallets he links to Murad[^2][^3]
- 2024-11: price reaches $0.90[^1]
- 2025-01-03: market cap passes $1.1 billion[^1]
- 2025-07-28: price at $2.24[^4]
- 2026-04: market cap about $250 million[^5]

## Key wallets
- Murad Mahmudov: in October 2024 [[ZachXBT]] named 11 wallets he linked to Murad with "high confidence", holding about $24 million in memecoins.[^3] Lookonchain estimated Murad made $23.6 million from SPX in four months.[^2] DropsTab data put his SPX entry at $0.01036 and his SPX profit above $66 million in July 2025.[^4] In April 2026 his tracked wallets held about 29.96 million SPX, with no meaningful sales recorded.[^5]

## Controversies
ZachXBT said he published the wallets so the community could watch for Murad "dumping" on followers, and accused him of making memecoin predictions while controlling much of the supply.[^3][^4] Murad did not address ZachXBT directly.[^3]

## See also
- [[Pepe]]
- [[Mog Coin]]
- [[Brett]]
- [[Neiro]]
- [[Turbo]]
- [[Kekius Maximus]]

## References
1. [SPX6900 Sets Record Highs While Trendy 'AI Agents' See Profit-Taking](https://www.coindesk.com/markets/2025/01/03/spx-6900-sets-record-highs-while-trendy-ai-agents-see-profit-taking), CoinDesk, 2025-01-03
2. [The 'memecoin supercycle' theory is converting crypto unbelievers](https://cointelegraph.com/news/memecoin-supercycle-crypto-markets), Cointelegraph, 2024-10-17
3. [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
4. [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
5. ['Memecoin Messiah' Lost $60M Trading Mostly SPX6900: He's Still Not Selling](https://cointelegraph.com/markets/memecoin-messiah-lost-60m-trading-spx6900-giga-hes-still-not-selling), Cointelegraph, 2026-04-02
6. [SPX6900 on DEX Screener](https://dexscreener.com/ethereum/0xE0f63A424a4439cBE457D80E4f4b51aD25b2c56C), DEX Screener, 2026-10-21
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