SPX6900 Surges Over 50% This Week, Nearing All-Time High
SPX6900 has surged over 50% this week and 10% in the last 24 hours, trading at $1.69, close to its high of $1.73 and all-time high of $1.77. It has gained attention as a serious player among meme coins despite its parody nature.
Key points:
- SPX6900's market cap increased from $275 million to $1.55 billion since March.
- Whale holdings rose from 104 million to 105.29 million SPX in the past month.
- Tokens held on exchanges decreased by 2.7% to 90.21 million.
- Technical analysis indicates a cup-and-handle formation nearing breakout near the $1.73–$1.77 resistance band.
- Fibonacci targets are set at $1.78 (1.618 Fib), $2.48 (2.618 Fib), with an ultimate target of $3.00+ (4.236 Fib).
- RSI at 81.74 suggests overbought conditions; potential short-term cooldown may occur.
- If SPX surpasses $1.77, the next target is $1.87, a 16% increase.
- A fallback could retest support at $1.62, with further drops possible to $1.34 or $1.20 under negative sentiment.
During this period, BONK fell 7% to $0.00001625, losing its status as the fifth-largest meme coin by market cap amid rising geopolitical tensions affecting the broader meme coin market by 3.5%.
