Can SPX and GIGA Get on Board?

ainCatcher

Recently, Murad, who is known as the “Meme Theologian”, stated on his social media that "#SPX6900 and GIGA will become DOGE and SHIB in this cycle." In the past week, the performance of SPX and GIGA has been quite good. According to Coingekco data, SPX currently has a market value of about $1.4 billion and is a TOP10 Meme coin. In the past week, it has risen by more than 80% among the TOP10 Memes, leading the increase and even surpassing the currently popular ai16z.

$GIGA's performance is slightly weaker, with a current market value of about $800 million, just ranking as the 15th largest Meme coin, and has risen by about 40% in the past week.

Murad's words and deeds are now attracting much attention from the market, and even a word he says may become a news item. As one of Memecoin’s top KOLs, Murad graduated from Princeton University. Before 2016, he worked in traditional financial institutions such as Goldman Sachs and Glencore. Later, he resigned to concentrate on Bitcoin. In 2017, he founded the Adaptive Capital fund. Unfortunately, it encountered the March 12 crash in 2020, and the fund closed down due to "inadequate infrastructure."

But Murad is not easily defeated. In 2022, he returned to social media with full blood and plunged into the world of Meme coins. He proposed the Memecoin Supercycle theory, thinking that Memecoin is "stealing" from value coins, acquiring attributes and speculative premiums, and is about to start a "Meme Supercycle". In the future, Memecoin will not only be an online joke, but will become a legitimate investment asset with a large number of enthusiastic followers. This view has made investors begin to re-examine Memecoin.

SPX and GIGA are both Memecoins that Murad first purchased. In addition, there are PEPE, SIGMA, APU and POPCAT. Among them, SPX and GIGA are a group of Memecoins that Murad mentioned frequently. SPX and GIGA are respectively compared with the largest Memecoin DOGE and the second largest Memecoin SHIB, which shows Murad's expectations for these two Memecoins.

So why are these two Memecoins so attractive that they caught Murad's eye?

As we all know, Murad prefers "cult-like" Memecoins with medium to high market capitalizations. Secondly, he mainly adopts the "price and belief index" investment strategy. This strategy believes that investors should look for projects with high belief but low price, that is, Memecoins that are undervalued but meet most of the screening criteria. These projects usually only have one or two indicators that are not up to standard, are easy to improve, and have extremely enthusiastic community support.

SPX and GIGA, one is a financial meme, and the other is a "handsome man" meme (which can be understood as a cultural stalk). They seem to be two types of memes, but they have the following common features: 1. Both are community-driven memecoins; 2. Both are supported by centralized exchanges;

SPX6900: Fighting against finance and satirizing S&P 500

Murad's love for SPX made him change his X profile to "SPX believer".

Let's review Murad's performance on SPX: When Murad first held SPX, the market value of the currency was only 10 million US dollars. Now it has risen to about 1.4 billion US dollars, and Murad's floating profit exceeds 14 million US dollars.

Now DOGE's market value is about $57 billion. If SPX wants to jump again, it's ambitious, just like the story SPX tells. However, Murad believes that SPX has a chance to break through $100 billion.

SPX, full name SPX6900, is a benchmark against the famous S&P 500 index, and wants to challenge this "giant" in the traditional financial world. But it has nothing to challenge this giant, mainly relying on "dreams". Even the official website is operated by fans, and it is stated on the website introduction of the Meme: "The SPX6900 token is a Memecoin, used for entertainment purposes only, and has no connection with any stock, equity or security. Any similarities or associations between SPX6900 and the "stock market" are purely coincidental and are intended to be sarcastic or humorous."

Elon Musk once said, "Mathematically speaking, 6900 cannot be contained by 500."

This sentence once confused people, and it was also posted