Murad Mamudov also known as “The Crypto Trader” is a trader of crypto currencies.Memecoin messiah” has lost more than $60 million in his betting over the last nine months. Yet, he still anticipates a bullish turnaround.
Takeaways:
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Mahmudov believes that SPX6900 will increase by 400,000%, which represents 96% of the memecoins in his portfolio.
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Technical chart analysis of SPX6900 indicates another 20% fall in the next weeks.
Mahmudov: SPX6900 to reach $1 trillion in market capitalization
On Wednesday, Mahmudov said the market capitalization of SPX6900 (SPX), a memecoin on a mission to overtake the US benchmark S&P 500 index, will grow to $1 trillion from its current valuation of around $250 million, a nearly 400,000% increase.
Bitcoin is a cryptocurrency (BTCThe only crypto that has reached the $1 trillion mark is, mainly due to growing institutional demand.
Mahmudov’s publically labeled wallets are tracked under “MuststopmuradArkham Intelligence currently holds approximately 29,964 millions SPX valued at $7.79 Million.
This one position represents 96% of the entire tracked portfolio valued at approximately $8.1 million.
The same portfolio reached its highest value in July of last year at around $67 Million.
Since then, the drop amounts to a loss unrealized of approximately $60 million. The broader memecoin industry, which includes SPX, has corrected more than 80% since its peak.
Mahmudov is still holding SPX6900, as well other memecoins
Mahmudov appears to not be locking in memecoin loss.
Portfolio tracker DropsTab shows There were no significant sales made by SPX6900 and his other positions. Realized profits and losses are zero.
The trader is holding unrealized gains of more than $6.22million instead of making a profit.
Mahmudov’s refusal to sale also stands out, because the wider memecoin markets has been brutal towards its dedicated holders.
CoinGecko released a new report for January. said In 2025, 11.6 millions tokens failed. This is a significant number. “affected the memecoin sector.”
Related: Memecoins and art market share similar economics — Ki Young Ju
Mahmudov’s wallet also reveals the smaller size of Mahmudov. limits of memecoin conviction.
This data shows the names RETARDMAXX (HONK), CHAD and HONK are all barely functioning.
Two-thirds of a million people are able to vote. RETARDMAXX pair Despite having a daily volume of $89 and six transactions, the average day’s liquidity was $44,000. CHAD Showed $842 of liquidity, with no trades or makers.
Two-thirds of a million people are able to vote. HONK The pair had only $1 of liquidity, and there was no activity recorded. These tokens still show a value on the screen but they are not reliable in terms of liquidity.
SPX900 breakdown suggests further losses to come
The three-day SPX6900 chart shows a break down of a rising wedge. This is a pattern which tends to resolve lower when the price falls below its support.
SPX’s momentum is weak. The wedge has started to lose its lower trendline around $0.26.
If the break-down confirms, then the calculated move is about $0.205, or 20% less than the current level.
Mahmudov’s portfolio of memecoins would lose approximately $1.56 Million if SPX dropped by 20%.
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Source: cointelegraph.com
