# Murad Mahmudov’s $60 M loss on SPX6900 and his bullish gamble

**Published:** 2026-06-16T08:10:47.660Z  
**Topic:** SPX6900  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/e74b715c-b98d-438f-8621-02b39b4d71c1

Murad Mahmudov, the “Memecoin messiah,” has lost about $60 million on SPX6900, yet he still expects a 400,000% rise to a $1 trillion market cap.

Murad Mahmudov, known on X as the “Memecoin messiah,” has seen his tracked crypto portfolio shrink by roughly $60 million over the past nine months, with the bulk of the loss tied to the SPX6900 token [1].  

Mahmudov’s publicly labeled wallets, identified by Arkham Intelligence as “Muststopmurad,” now hold about 29.96 million SPX6900 worth $7.79 million, representing 96 % of his total tracked holdings, which are valued at $8.1 million after a peak of $67 million in July 2023 [1].  The SPX6900 token, marketed as a memecoin aiming to outpace the S&P 500, currently trades around $0.26 and has fallen more than 80 % from its highs, prompting a technical breakdown that could shave another 20 % off its price, potentially erasing $1.56 million from Mahmudov’s portfolio [1].  

Despite the steep decline, Mahmudov has not sold any of his SPX6900 or other memecoins, with portfolio tracker DropsTab showing zero realized profit or loss on the positions [1].  He publicly claims the token will reach a $1 trillion market cap—a 400,000 % increase from its present $250 million valuation—and expects a bullish reversal, even as the chart’s rising‑wedge pattern signals further downside [1].  Smaller tokens in his holdings, such as RETARDMAXX, HONK and CHAD, exhibit negligible liquidity and trading activity, underscoring the fragility of exit options in the broader memecoin sector [1].  

Mahmudov’s refusal to liquidate his losses highlights a broader risk: CoinGecko reports that over half of tracked cryptocurrencies have been inactive since 2021, with more than 11 million token failures projected for 2025, a trend that has hit memecoin investors hard [1].  As SPX6900’s price momentum weakens, the open question is whether Mahmudov’s confidence in a trillion‑dollar market cap can survive another price plunge, or if his steadfast holding will force a forced sale at a deeper loss.

## Sources
1. Tradingview — ['Memecoin messiah' lost $60M trading mostly SPX6900: He's still.....](https://www.tradingview.com/news/cointelegraph:2df6e66c1094b:0-memecoin-messiah-lost-60m-trading-mostly-spx6900-he-s-still-not-selling/)
2. Mexc — [‘Memecoin Messiah’ Lost $60M Trading Mostly SPX6900: He’s Still...](https://www.mexc.co/news/1001965)
3. Cointelegraph-tr — [Dokuz ayda 60 milyon dolar kaybeden memecoin yatırımcısı hala umutlu](https://cointelegraph-tr.com/markets/memecoin-messiah-lost-60m-trading-spx6900-giga-hes-still-not-selling)

---
Cite as: TrendWatcher, "Murad Mahmudov’s $60 M loss on SPX6900 and his bullish gamble", https://www.trendwatcher.in/article/e74b715c-b98d-438f-8621-02b39b4d71c1