TL;DR
- SPX hit an almost four-month high and surpassed a $1 billion market capitalization.
- Many analysts are bullish that the asset could reach a new all-time high, with some claiming the historic peak might occur as soon as this summer.
The Impressive Rally
In the ever-evolving world of cryptocurrency, numerous assets have demonstrated significant gains this past month. However, few have achieved impressive triple-digit increases within such a short timeframe. Among them, the meme coin SPX6900 (SPX) stands out, boasting a remarkable price surge of 101% over the last 30 days. As of now, SPX is trading at approximately $1.17, marking its highest value since early February.
This meteoric rise propelled SPX’s market capitalization beyond the psychologically significant $1 billion threshold, securing its position as the 95th-largest cryptocurrency globally. In the process, SPX surpassed FLOKI, positioning itself as the eighth-largest meme coin, while “dogwifhat” (WIF) holds the seventh spot by only a slender lead.
SPX, a meme coin primarily functioning on the Ethereum blockchain, also enjoys cross-chain support on Solana and Base network. Launched in August 2023, SPX primarily traded below $0.01 during its first year. However, the narrative changed dramatically during the bullish meme coin run towards the end of 2024, witnessing SPX rise to almost $1 in October. The momentum continued into early 2025, reaching an all-time high of $1.72 on January 20, coinciding with the inauguration of Donald Trump as the 47th President of the United States, which bolstered the entire crypto market amid the excitement.
Despite a sharp correction shortly thereafter, with SPX plummeting to $0.25 in March, the coin has made impressive strides, currently trading approximately 30% below its historical peak.
The Next Targets
SPX’s resurgence has captured the attention of several market analysts. One such prominent figure, known as Altcoin Sherpa on X, commented favorably on the asset’s chart patterns, suggesting a bullish sentiment around SPX. Another industry participant, Bluntz, expressed agreement, noting it has been a considerable amount of time since they were impressed by a meme coin’s structure and speculated that achieving a new all-time high in the upcoming months is within reach.
It’s been a long time since I’ve really liked a memecoin structure but ATH on $spx actually looks quite likely imo.
— Bluntz (@Bluntz_Capital) May 29, 2025
Additionally, X user KNIGHT hinted at the possibility of SPX experiencing a further price surge, predicting a peak nearing $2.50 this summer, indicating strong bullish sentiment among investors and analysts alike.
As SPX continues to rally, it’s clear that this meme coin is more than just a fleeting trend. With growing anticipation surrounding its potential, many are watching closely to see how this story unfolds in the coming months.
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