BlockBeats message, April 2, according to Cointelegraph. The well-known Meme coin KOL Murad has accumulated an unrealized loss of nearly $60 million in Meme coin trading over the past nine months, but he says he still expects a rebound and did not exit with a stop-loss. His current holdings are about 29.964 million SPX6900 (SPX), worth about $7.79 million, accounting for about 96% of his total tracked investment portfolio of roughly $8.1 million. In July last year, the portfolio’s peak value was as high as about $67 million; since then, as the Meme coin sector has fallen more than 80% from its highs, accumulated unrealized losses have reached about $60 million. Data shows that there are still no records of any substantive selling of his SPX6900 holdings and other major positions, and realized gains and losses remain at zero.
On Wednesday, Murad said on X that the market value of SPX6900 will grow from the current roughly $250 million to $1 trillion, an increase of nearly 400,000%. He noted that, at present, Bitcoin is the only cryptocurrency that has broken the $1 trillion market cap threshold.
From a technical standpoint, SPX6900 on the three-day chart is moving from an ascending wedge pattern to a downside breakout, having fallen below the wedge’s lower trendline support by about $0.26, and is trading below the 20-, 50-, and 100-period exponential moving averages, indicating weak momentum. If the selloff is confirmed, the pattern’s measured target points to around $0.205, about 20% lower than the current level, which would cause Murad’s Meme coin portfolio to lose another roughly $1.56 million.
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