A new memecoin has seemingly come out of nowhere to break into the top 100 crypto assets by market cap with incredible rallies.
SPX6900 (SPX), a reference to the S&P500 index that satirically aspires to “topple the S&P 500 by reaching a staggering $69 trillion market capitalization,” is currently up nearly 5,000% over the past few years. Last 30 days.
On September 13, SPX was trading at $0.0179 and is currently valued at $0.909 a month later with a market cap of $849 million. It is currently up almost 69,000% from its all-time low recorded earlier this year.
Says the official memecoin website,
“As SPX6900 heads toward its $69 trillion market cap, it rewrites the rules of finance, proving that the power of community belief and mass appeal can indeed reshape the world.
In its wake, the S&P 500 seems quaint, a relic of a bygone era when traditional measures of value reigned supreme. The rise of the SPX6900 heralds a new financial era, where meme tokens capture the imaginations and wallets of investors around the world, proving once and for all that in the digital age, the size of your number truly is everything.
At the time of writing, SPX6900 is the 95th largest crypto asset by market capitalization.
Crypto veteran Chris Burniske expects big things from memecoins in the current digital asset market cycle.
The venture capitalist recently said on social media platform
“The cultural relevance of certain NFT (non-fungible token) collections acquired in 2021 will be surpassed by certain memecoins. Not here to endorse a horse, but the trend is clear.
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