Down $60M and Still Diamond-Handing: Murad Says SPX6900 Will Outrun DOGE and PEPE

Crypto influencer Murad Mahmudov is once again making the rounds on X with a bold claim: SPX6900 (SPX) is stabilizing at the exact market cap level where Dogecoin (DOGE) and Pepe (PEPE) consolidated before their explosive rallies. The Princeton-educated trader, affectionately known as the 'Meme coin Messiah,' posted his analysis on April 5, arguing SPX will surpass both tokens. One can only admire a man who has turned significant unrealized losses into a content calendar.

Murad pointed to what he sees as a repeating historical pattern among top meme coins. DOGE traded sideways at a relatively low valuation before surging to roughly $87 billion at its May 2021 peak. PEPE followed a similar trajectory, consolidating before climbing to approximately $12 billion. SPX6900 now sits at around $244 million in market cap — a range Murad frames as the same type of accumulation zone. Apparently, in the meme coin universe, history doesn't just rhyme — it full-on copies and pastes with slightly different jpegs.

"It's fascinating to me that SPX6900 is stabilizing and flattening at the same market cap that DOGE and PEPE have stabilized before they proceeded to go to $87 Billion and $12 Billion respectively. Not a coincidence. Except this time SPX6900 will go much, much higher," he stated. For those keeping score at home, that's "much, much higher" from a market cap roughly 360 times smaller than where DOGE peaked. We're not mathematicians, but those multiples require either faith or some very potent hopium.

The call comes despite significant personal drawdowns. Murad holds approximately 29.96 million SPX tokens, worth roughly $7.8 million, which represents 96% of his publicly tracked portfolio. That portfolio peaked near $67 million in July 2025 before the broader meme coin sector corrected by over 80%. He has not sold. To be fair, selling would require finding a buyer, and in this market, that's basically a full-time job with a terrible commission structure.

On-chain data from Arkham Intelligence shows no