SPX6900 meme coin climbs 2% as whale buying steadies, eyes $1.55

SPX6900 jumped almost 2% on Monday, following a 4.71% rebound the day before, as renewed whale activity lifted sentiment in the meme token [2].

The surge coincided with a cooling‑off among the largest holders: tokens held by wallets with 100 million‑to‑1 billion tokens steadied at 147.57 million after slipping from 151.55 million last week, reducing sell pressure from the biggest whales [2]. At the same time, mid‑size wallets (10 million‑100 million tokens) expanded to 253.9 million, up from 244.74 million, and smaller investors (1 million‑10 million) grew to 309.11 million, up from 292.04 million, suggesting fresh buying from less‑dominant groups [2].

Coinglass data showed open interest (OI) climbing over 7% to $144.54 million, indicating more capital flowing into SPX derivatives and reinforcing the bullish tilt [2]. The long/short ratio edged above 1 at 1.0182, meaning longs modestly outnumbered shorts, while the OI‑weighted funding rate held at 0.0072%, a slight dip from its earlier 0.0138% peak but still positive for bulls [2]. Technical signals are mixed: the RSI sits at 67, just below the overbought line, and the MACD nears a bearish crossover, yet the token held above four of five daily EMAs, keeping short‑term momentum bullish [2][3].

Historical patterns show SPX’s price spikes align with viral social momentum and whale accumulation. A 12% rally in September 2025 followed heavy whale buying, while a $4.55 million whale outflow to Bybit in July 2025 preceded a sharp decline [1]. The current environment mirrors past rallies that unfolded during alt‑coin seasons, when capital rotates from Bitcoin into speculative assets; the Altcoin Season Index sits at a neutral‑but‑improving 47 [1]. However, the token’s on‑chain activity has been waning, and without fresh narrative drivers, hype can evaporate quickly, as seen in its 83.67% drop from the July 2025 peak of $2.28 [1].

If SPX can close above the $1.55 resistance and break the $1.61 ceiling, a clean close above the all‑time high could trigger a push toward the $1.89 Fibonacci level. Failure to do so may see the price retest the $1.28 support and, if broken, the 50‑day EMA at $1.02. The next move hinges on whether the meme’s cultural momentum sustains and whether whales continue to accumulate or start exiting.