A brand new memecoin has seemingly come out of nowhere to interrupt into the highest 100 crypto belongings by market cap with unimaginable rallies.
SPX6900 (SPX), a reference to the S&P500 index which satirically aspires to “topple the S&P 500 by reaching a staggering $69 trillion market cap” is at the moment up practically 5,000% within the final 30 days.
On September thirteenth, SPX was buying and selling at $0.0179 and is at the moment valued at $0.909 a month later with a $849 million market cap. It’s at the moment up practically 69,000% from its all-time lows recorded earlier this 12 months.
Says the memecoin’s official web site,
“As SPX6900 marches in direction of its $69 trillion market cap, it rewrites the foundations of finance, proving that the facility of group perception and the attract of huge numbers can certainly reshape the world.
In its wake, the S&P 500 appears quaint, a relic of a bygone period the place conventional metrics of worth reigned supreme. The ascent of SPX6900 heralds a brand new monetary epoch, the place meme tokens seize the creativeness and wallets of traders worldwide, proving as soon as and for all that within the digital age, the scale of your quantity actually is every part.”
At time of writing, SPX6900 is the Ninety fifth-largest crypto asset by market cap.
Crypto veteran Chris Burniske is anticipating huge issues from memecoins within the present digital asset market cycle.
The enterprise capitalist lately stated on the social media platform X that “memecoins’ tendency to set off” suggests they are going to be larger than forecasted going ahead.
“The cultural relevance some NFT (non-fungible token) collections garnered in 2021 will probably be surpassed by some memecoins. Not right here to endorse a horse, however the development is obvious.”
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