SPX6900: The Memecoin Cult Hoping to Flip the Entire U.S. Stock Market

SPX6900 (SPX) crossed a $1.1 billion capitalization earlier Friday to set a new record above $1.25, breaking a November high of 90 cents, amid renewed interest in memecoin cults on Crypto Twitter.

A group hoping to flip the entire U.S. stock market just moved closer to its bizarre goal, although with trillions of dollars more to go.

SPX6900 (SPX) crossed a $1.1 billion capitalization earlier Friday to set a new record above $1.25, breaking a November high of 90 cents, amid renewed interest in memecoin cults on Crypto Twitter.

That came as AI Agent projects virtuals (VIRTUALS), ai16z (AI16Z) and the broader category fell by 8% on average, amid criticism of their claimed AI models, as previously noted in a CoinDesk analysis.

The Ethereum-based SPX6900 has a total supply of 930 million tokens, the holders of which have formed a viral cult that professes the project as one of their only ways to financial freedom.

“You were born into a world where buying a house means taking on a mortgage in the hundreds of thousands. You've entered an investment landscape where the Stock Market has already celebrated its most significant gains, leaving you to wonder what's left for you,” part of a manifesto on the SPX6900 site reads. “You're navigating a reality shaped by the aftermath of 9/11, a crippling 2008 recession, an unprecedented global pandemic, runaway inflation, and escalating violence.”

stop trading and believe in something 𝐬𝐭𝐨𝐩 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐚𝐧𝐝 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐧 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠

stoppen 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐚𝐧𝐝 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐧 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠

stop 𝑡𝑟𝑎𝑑𝑖𝑛𝑔. 𝒔𝒕𝒂𝒓𝒕 𝒃𝒆𝒍ｉ𝒆𝒗ｉｎｇ. 𝒇𝒍ｉ𝒑 𝒕𝒉𝒆 𝒔𝒕𝒐𝒄ｋ 𝒎𝒂𝒓ｋ𝒆𝐭. pic.twitter.com/CmSSWZlRUx

“SPX6900 is the reset. SPX6900 is the canvas on which new financial dreams are painted. It's the S&P500 with 6400 more. It’s the stock market for the people. SPX6900 is for you, your children, and countless generations after,” it adds.

The message echoes a similar sentiment to the creation of bitcoin, which was introduced in response to the 2008 financial crisis 16 years ago.