Crypto · Ethereum Memecoin · SPX
SPX6900.
A Joke About The S&P That Went Up Seventeen Hundred Times.
It replaced the 500 with 6900, told people to stop trading and believe in something, and then ran from a tenth of a cent to $2.27.
SPX6900 is an Ethereum ERC-20 memecoin launched in August 2023 whose name parodies the S&P 500 by replacing 500 with 6900. It has a maximum supply of one billion tokens. It reached $2.27 on 28 July 2025 at a market capitalisation near $2 billion, having traded at $0.00131808 in February 2024.
What SPX Is
The token itself, and where it came from.
What It Is
SPX6900 is an Ethereum ERC-20 memecoin built on a parody of the S&P 500 index, borrowing the recognition of the name and replacing the number with a deliberately absurd one. There is no fund, no index and no underlying, which is the joke.
Origin
Launched in August 2023 on Ethereum. No publication I could reach identifies the creator, so none is named here. A bridged version exists on Solana and no source gives its date. Source: MEXC Crypto Pulse.
Supply
Maximum supply of 1,000,000,000 tokens with about 931 million circulating. Ethereum contract .
Chain
Ethereum ERC-20
Two prices, both from CoinGecko. The dashed line is a straight join between them, not the path the price took.
The Record
Documented highs, lows and events. Not a forecast.
All Time High
$2.27, 28 July 2025. Source: CoinGecko.
All Time Low
$0.00131808, 4 February 2024. Source: CoinGecko.
Event 1
From $0.00131808 on 4 February 2024 to $2.27 on 28 July 2025, a rise of roughly seventeen hundred times in eighteen months, at a market capitalisation near $2 billion. Sources: CoinGecko; MEXC Crypto Pulse.
Event 2
The slogan is “Stop Trading Believe in Something”, which is an unusual thing for a tradeable asset to say and is a large part of why it spread. Source: MEXC Crypto Pulse.
Event 3
Listed on Upbit on 15 June 2026 and Bithumb on 16 June 2026, one day apart, which is the Korean market opening to it. Source: MEXC Crypto Pulse.
Event 4
Trading near $0.32 in August 2026, about eighty six percent below the July 2025 high. Source: MEXC Crypto Pulse.
The Lore, And Murad
Seven dated events. A parody of an index that traded at a tenth of a cent for a year, then became the flagship position of the loudest thesis in memecoins, then fell 83 percent with him still holding it.
August 2023 · A Joke About The Index
SPX6900 was deployed as an Ethereum ERC-20 with a maximum supply of one billion tokens, its name a parody of the S&P 500 with the 500 replaced by 6900. There is no fund, no index and no underlying, which is the joke rather than an omission. The launch is reported as a month rather than a day. Source: MEXC Crypto Pulse.
4 February 2024 · $0.00131808
CoinGecko records the all time low at $0.00131808 on 4 February 2024, roughly six months after launch. Everything that follows is measured from a token that had already existed for half a year and was worth a tenth of a cent. Source: CoinGecko.
September 2024 · The Memecoin Supercycle, On Stage
Murad Mahmudov presented his memecoin supercycle thesis at TOKEN2049 in Singapore, arguing that community owned tokens would outperform Bitcoin and Ether and that holders should treat them as long term positions rather than trades. He described the ones that qualify as cults rather than as conventional financial assets. He does not create or operate the tokens he names, he publishes a list of what meets his criteria. Sources: TOKEN2049 session listing, The Defiant 8 January 2025, Cointelegraph.
October 2024 · The Wallets Get Published
The on-chain investigator ZachXBT publicly posted Mahmudov’s wallet addresses. The analysis that followed showed roughly $19 million in unrealised gain on SPX6900 with nothing sold. From that point the position was public and checkable rather than claimed, which is the reason every figure below has a tracker behind it. Source: The Defiant, 8 January 2025.
2 to 8 January 2025 · The List Outperforms, And Does Not
Over that week SPX6900 and APU rose more than 40 per cent while PEPE and dogwifhat were flat and FWOG, also on the list, fell 23 per cent. Being named was not the same as going up. The Defiant reported the divergence inside the same set of coins. Source: The Defiant, 8 January 2025.
28 July 2025 · $2.27, And A $67 Million Paper Position
SPX6900 reached $2.27 at a market capitalisation near $2 billion. On the same day Cointelegraph, reading DropsTab, put Mahmudov’s average entry at $0.01036, his unrealised profit on SPX alone above $66 million, his total memecoin holdings above $70 million and the capital he had actually put in at $1.86 million. Arkham Intelligence later dated the portfolio peak of about $67 million to that month. Sources: CoinGecko, MEXC Crypto Pulse, Cointelegraph 28 July 2025, Arkham Intelligence via The Crypto Times.
19 June 2026 · Down 83.5 Per Cent, Still Not Sold
The Crypto Times, reading Arkham Intelligence, put the portfolio at $11.33 million against the $67 million peak of July 2025, a fall of 83.5 per cent, with about $10.97 million of what was left in SPX6900 across 29.964 million tokens. It reported that he had not sold his major positions. Holding through an 83 per cent drawdown is the thesis working exactly as stated, and it is also what an 83 per cent drawdown looks like from the inside. Source: The Crypto Times, 19 June 2026, citing Arkham Intelligence.
The Live Chart, And The Contract
Daily candles for the pool this token actually trades in, re-read every minute and drawn on this page rather than embedded from somebody else’s. The contract is underneath so you can check the chart is the token this page is about.
Loading the daily candles.
Daily candles from GeckoTerminal, re-read every minute while this section is on screen and drawn on this page. Not a recommendation.
Check the contract against the chart before you trust either. On both chains there is always a different token using the same name.
The Risks
Structural, and specific to this token.
Risk 1
The creator is unidentified, so there is no accountable entity behind it.
Risk 2
The premise is a parody of an index it has no relationship to. Nothing about the S&P 500 affects this token and nothing about this token affects the S&P 500.
Risk 3
It is down about eighty six percent from its high while still carrying the story that produced the high. Both facts are true at once and the second one is the one that travels.
Risk 4
A bridged Solana version exists and this page is about the Ethereum contract. Check the chain and the contract before touching either.
Launch details and events sourced from Wikipedia, Fortune via Yahoo Finance, Gate Learn and MEXC Crypto Pulse, with each figure carrying its publication in the row it appears in. Supply, contracts, all time highs and all time lows are from CoinGecko, and every contract was then resolved through DexScreener and checked against the symbol and name of the page it sits on. Prices are dated snapshots, not live figures. Nothing on this page is a price forecast. Every row in the timeline carries its own date and its own publication, and those are the sources. Supply, contracts, all time highs and all time lows come from CoinGecko, cross checked against CoinMarketCap and Coinpaprika. Where the aggregators disagree, both figures are printed and each is named in the row. Where a date is reported only as a month or a range it is written that way rather than narrowed. Direct quotations are reproduced from the reporting and attributed to the person who said them. Any price or market capitalisation in a row is a dated snapshot, not a live figure. Nothing on this page is a price forecast.
The Other Breakdowns
Same shape every time.
PEPE · Pepe
The largest memecoin built on a character with a living author who never licensed it.
SHIB
Half The Supply Went To A Stranger.
TURBO
A Language Model Designed It For $69.
MOG
420.69 Trillion, Fairly Launched.
FLOKI
Named After A Dog That Was Named On Twitter.
The Solana Memecoins
Twenty breakdowns and the ten largest, refreshed hourly.
Common Questions
An Ethereum ERC-20 memecoin launched in August 2023 whose name parodies the S&P 500, replacing 500 with 6900. Maximum supply is one billion tokens. Source: MEXC Crypto Pulse.
No. It has no relationship to the index, no fund behind it and no underlying assets. Borrowing the name is the joke.
$2.27 on 28 July 2025, at a market capitalisation near $2 billion. It traded at $0.00131808 on 4 February 2024. Sources: CoinGecko, MEXC Crypto Pulse.
A bridged version exists on Solana. This page covers the Ethereum contract at . Check the chain and the contract before you touch either.
No. Memecoins have no cash flows and most go to zero. Cody Wise is not a licensed advisor.
A Memecoin Is Not
A Position.
The sleeve is sized so a total loss changes nothing about the plan. That is the only condition under which it belongs at all.
Not financial advice.