Is It Too Late To Buy SPX? SPX6900 Price Up 3,091% In A Month And This Might Be The Next Crypto To Explode
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Newcomer meme coin SPX6900 ($SPX6900) has gone parabolic over the last month, ballooning around 2,439% in the last 30 days alone to trade at $0.8225 as of this writing.
However, the token’s momentum appears to be slowing.
In the last 24 hours, SPX6900 only added 4.4% to its price.
Its current level indicates a 61% advance in the last seven days, making it one of the best-performing among the top thirty meme coins over the last week.
Only Turbo ($TURBO) grew more. Pepe’s fellow Boy’s Club meme coin added 70%.
Broadly speaking, SPX6900’s gains are in line with the rest of the meme coin market, which rose 4.8% overnight to hit a market capitalization of $59.3 billion.
In contrast, the combined crypto market remains virtually unchanged with a 0.4% rise since yesterday to hit $2.39 trillion.
Market leader Bitcoin ($BTC) added 1% overnight and 5% over the week to trade at $65,639.
SPX6900 launched in August 2023. It is parodying the S&P500, the index that tracks the stock performance of 500 of the world’s largest public companies.
That’s where the similarities end. Because although SPX6900 purports to be a meme coin index, it’s really just a token.
To give it a sense of lore, the developers have built an accompanying troll fake news website to promote the meme coin with headlines riffing on the euphemistic connotations of “69”, a common reference in the irreverent crypto scene.
According to the data, SPX6900’s rise over the last month has been parabolic, frequently challenging the dollar mark since October began. The token hit an all-time high of $0.96 on October 13, but has since declined by about 15%.
A relative strength index of
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