A brand new memecoin has seemingly come out of nowhere to interrupt into the highest 100 crypto property by market cap with unbelievable rallies.
SPX6900 (SPX), a reference to the S&P500 index which satirically aspires to “topple the S&P 500 by attaining a staggering $69 trillion market cap” is presently up almost 5,000% within the final 30 days.
On September thirteenth, SPX was buying and selling at $0.0179 and is presently valued at $0.909 a month later with a $849 million market cap. It’s presently up almost 69,000% from its all-time lows recorded earlier this yr.
Says the memecoin’s official web site,
“As SPX6900 marches in direction of its $69 trillion market cap, it rewrites the principles of finance, proving that the ability of group perception and the attract of huge numbers can certainly reshape the world.
In its wake, the S&P 500 seems 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 buyers worldwide, proving as soon as and for all that within the digital age, the dimensions of your quantity really is every part.”
At time of writing, SPX6900 is the Ninety fifth-largest crypto asset by market cap.
Crypto veteran Chris Burniske is expecting massive issues from memecoins within the present digital asset market cycle.
The enterprise capitalist lately mentioned on the social media platform X that “memecoins’ tendency to set off” suggests they are going to be greater than forecasted going ahead.
“The cultural relevance some NFT (non-fungible token) collections garnered in 2021 might be surpassed by some memecoins. Not right here to endorse a horse, however the pattern is evident.”
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