SPX6900 Devices File Highs While Novel ‘AI Brokers’ Request Profit-Taking

“It’s the stock marketplace for the folk. SPX6900 is for you, your youngsters, and endless generations after,” a manifesto on SPX6900’s region reads.
Updated Jan 9, 2025, 11:43 a.m. UTCPublished Jan 3, 2025, 1:16 p.m. UTC
A crypto cult hoping to flip the total U.S. stock market correct moved nearer to its out of the ordinary aim, despite the indisputable truth that with trillions of greenbacks more to head.
SPX6900 (SPX) crossed a $1.1 billion capitalization earlier Friday to diagram a fresh sage above $1.25, breaking a November high of 90 cents, amid renewed hobby in memecoin cults on Crypto Twitter.
That came as AI Agent projects virtuals (VIRTUALS), ai16z (AI16Z) and the broader category fell by 8% on common, amid criticism of their claimed AI items, as beforehand eminent in a CoinDesk diagnosis.
The Ethereum-based SPX6900 has a total supply of 930 million tokens, the holders of which rep formed a viral cult that professes the challenge as and not using a doubt one of their exclusively ways to monetary freedom.
“You were born into a world the place shopping a dwelling technique taking on a mortgage in the a selection of hundreds. That you just may perchance perchance perchance also merely rep entered an funding panorama the place the Stock Market has already well-known its most important gains, leaving you to marvel what’s left for you,” fragment of a manifesto on the SPX6900 region reads. “You are navigating a fact formed by the aftermath of 9/11, a crippling 2008 recession, an unheard of world pandemic, runaway inflation, and escalating violence.”
stay shopping and selling and have confidence in something
𝐬𝐭𝐨𝐩 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐚𝐧𝐝 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐧 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠
𝑠𝑡𝑜𝑝 𝑡𝑟𝑎𝑑𝑖𝑛𝑔 𝑎𝑛𝑑 𝑏𝑒𝑙𝑖𝑒𝑣𝑒 𝑖𝑛 𝑠𝑜𝑚𝑒𝑡ℎ𝑖𝑛𝑔
𝒔𝒕𝒐𝒑 𝒕𝒓𝒂𝒅𝒊𝒏𝒈. 𝒔𝒕𝒂𝒓𝒕 𝒃𝒆𝒍𝒊𝒆𝒗𝒊𝒏𝒈.
𝒇𝒍𝒊𝒑 𝒕𝒉𝒆 𝒔𝒕𝒐𝒄𝒌 𝒎𝒂𝒓𝒌𝒆𝒕. pic.twitter.com/CmSSWZlRUx
— SPX6900💹🧲 (@spx6900) January 3, 2025
“SPX6900 is the reset. SPX6900 is the canvas on which fresh monetary dreams are painted. It is the S&P500 with 6400 more. It’s the stock marketplace for the folk. SPX6900 is for you, your youngsters, and endless generations after,” it provides.
The message echoes a same sentiment to the creation of bitcoin, which was equipped per the 2008 monetary disaster 16 years ago.
Since early 2023, memecoins rep moved previous mere dogs or cat-themed tokens to meme cults that rally at the aid of an view, an view or a in actuality feel-relevant fact. Communities of these tokens, equivalent to mog (MOG), giga (GIGA) and SPX, speed rampant on social media platforms equivalent to X, the place customers in point of fact have confidence in these tokens no matter their non-serious nature.
The SPX neighborhood started the now fresh Crypto Twitter line “stay shopping and selling and originate believing in something,” attempting to popularize keeping tokens in space of promoting off and transferring on to more moderen projects. Some dispute right here’s among the many factors which rep built a solid neighborhood around SPX.
Popular memecoin investors dispute the token also may perchance perchance even flip the likes of dogecoin (DOGE), the fresh finest by market capitalization of $51 billion.
“It’s the exclusively token with a memetic target,” effectively-adopted memecoin proponent @MustStopMurad said in a fresh interview. “Even supposing it reaches 10% of that, 1% of that, or even 0.1% of that…it is peaceable $Forty five billion. I raise out have confidence dogecoin goes to secure flipped as SPX is the BTC of memes.”
“Here is the following GME,” Murad added, referring to GameStop and its cult-admire following.
Shaurya Malwa
Shaurya is the Co-Chief of the CoinDesk tokens and files team in Asia with a focal point on crypto derivatives, DeFi, market microstructure, and protocol diagnosis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
BANANA, ROME, BURGER, SPIRIT, and ORCA.
He offers over $1,000 to liquidity swimming pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.