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SPX6900 (SPX6900) has been swimming against the current lately as this meme coin has booked a 123.5% gain in the past 30 days, as the market seems to have pulled a robust short-squeeze on this token.
SPX6900 is a meme coin that parodies the popular S&P 500 stock index. It is considered a satirical stand against traditional finance, and it was popularized by Murad – a meme coin influencer known for his successful bets on Pepe (PEPE) and dogwifhat (WIF).
Murad is reportedly a former Goldman Sachs analyst who resigned from the firm to focus on meme coins since 2018.
#SPX6900 will be the Biggest Success Story of this Decade pic.twitter.com/6vEAvQfMwJ
— Murad 💹🧲 (@MustStopMurad) June 3, 2025
He has been a vocal supporter of SPX6900 since the token was launched. He considers this meme coin a key piece of the puzzle of what he deems as ‘The Meme Coin Supercycle of 2025.’
With nearly 714,000 followers, Murad’s endorsement of any cryptocurrency could significantly push its price higher. With his relentless support, this token could end up having one of the strongest communities of the meme coin space.
Trading volumes for SPX6900 have gone up by 9% in the past 24 hours and currently account for just 7% of the token’s circulating supply, meaning that the frenzy has cooled down for a moment.
SPX6900 Climb to Current Levels Seems to Be Influenced by Real Demand, Not a Short Squeeze
The daily price action shows that SPX6900 has been moving up a ladder in the past few days and seems poised to retest its all-time high if the uptrend continues.
Different from other meme coins whose prices have skyrocketed all of a sudden in an elevator-like movement, SPX6900’s price surge has been more systematic and organized, which suggests that the rally could be the result of real demand rather than just a short squeeze.
The $0.90 level seems to be the key support to watch for SPX6900 at the moment. As long as the token keeps making higher highs after each pullback, its bullish structure will remain intact and this would support a renewed bullish target.
Momentum indicators are already nearing extreme levels as the Relative Strength Index (RSI) is close to 70 (overbought) already.
Traders should be cautious at this point, as this kind of rally tends to face severe corrections once it encounters strong selling pressure, as the market flushes out excess leverage through stop-loss hunting.
Although a short squeeze does not seem to be the reason why SPX6900 got to its current level, a long squeeze could wipe out some of its gains rapidly, as it has happened with other ‘hyped’ meme coins like Pudgy Penguins (PENGU) and Fartcoin (FARTCOIN).
Solana meme coins like SPX6900 have been in high demand lately. As this network’s ecosystem keeps growing, its infrastructure will need some assistance to remain efficiency during peak usage periods.
A new crypto presale called Solaxy (SOLX) will soon launch its layer-two scaling solution for Solana and its utility token is currently being offered at a discounted price for early buyers.
Solaxy (SOLX) Enters the Last Few Days of Its Presale with More Than $40M Raised
Solaxy (SOLX) aims to solve the congestion issues that Solana faced during periods of above-average network usage – e.g. the launch of TRUMP and MELANIA back in January.
The developing team has made significant progress to deploy the L2. Recently, they launched a block explorer for the Solaxy testnet so investors can check the solution’s performance in real time.
Once the Solaxy mainnet is launched, the demand for its utility token, $SOLX, will skyrocket. Top wallets and exchanges will embrace the protocol and this will propel the price to uncharted territory. Early buyers of $SOLX will reap the highest returns once this happens.
In addition, the project offers attractive staking rewards of 92% to investors who are willing to secure the L2 by locking up their assets.
With only 12 days to go before the end of its presale, head to the Solaxy website and connect your wallet to invest in $SOLX at its discounted price. You can either swap USDT or SOL for this token or use a bank card to invest.
