Meme coin faith suffers a heavy blow: Murad's portfolio evaporates 80% in one year, SPX drops to a historic low

On January 29, news broke that the investment portfolio of well-known investor and Meme coin supporter Murad Mahmudov experienced a significant decline by January 2026. On-chain data shows that his total assets have fallen from a peak of approximately $67 million last year to about $11.5 million, a drop of over 80%, nearly erasing all previous unrealized gains.

This decline is mainly driven by the continued weakness in the altcoin and Meme coin sectors. Tracking platforms indicate that most of the tokens held by Murad have lost between 75% and 90% over the past year, with some projects experiencing even higher losses. Market interest in high-risk assets has noticeably cooled, leading to a lack of sustained buying support for these tokens.

Among them, SPX6900 (SPX) is his largest holding, with a current market value still exceeding $11 million. Murad holds approximately 30 million SPX tokens, accounting for about 3.2% of the circulating supply. This token surged above $2.20 during the last bull run but subsequently retraced over 84%. Despite the sharp price decline, he has not reduced his holdings and has publicly expressed confidence in the project’s long-term value.

However, on-chain indicators also reveal potential risks accumulating. Since January, SPX’s balance on centralized platforms has been steadily increasing, now exceeding 200 million tokens, representing over 21% of the circulating supply. This is often seen as a sign that selling pressure may be mounting.

Currently, the price of SPX is around $0.36, reaching a low not seen in over a year. If the downward trend continues, Murad’s overall assets could face further compression. Analysts believe that in the highly competitive and sentiment-driven crypto market, a simple “HODL” strategy is under greater scrutiny.

Murad’s experience not only serves as a real-world test of individual investment styles but also reflects the survival pressures faced by the Meme coin sector in a new cycle.