TL;DR
- SPX’s price climbed to a nearly five-month high, while its market capitalization swelled to almost $1.5 billion.
- Analysts are split on what comes next: some expect a push to a new all-time high, while others warn of a short-term pullback before potential further gains.
SPX Joins a Prestigious Club
The meme coin sector has experienced a significant revival lately, with some tokens posting impressive gains over a short period of time. One evident example is SPX6900 (SPX), whose valuation has increased by a whopping 80% on a monthly basis.
Earlier today (June 11), it spiked to $1.63, the highest point witnessed since January 2025. Later, it slightly retraced to the current $1.55 (per CoinGecko’s data).
SPX’s market capitalization, which exceeded $1 billion towards the end of May, is now approaching $1.5 billion. This makes the asset the 80th-biggest in the entire cryptocurrency market.
Furthermore, SPX has become the fifth-largest meme coin after surpassing Fartcoin (FARTCOIN) and Bonk (BONK), both of which have a market cap of approximately $1.3 billion.
The only four memes ranking higher are Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Official Trump (TRUMP).
SPX is a meme coin built on Ethereum, with cross-chain support on Solana and Base. It is designed as a humorous take on traditional finance, satirizing the popular S&P 500 index. The meme coin began trading in the summer of 2023, with its price exploding to an all-time high of $1.72 at the start of 2025. In March, it dipped to as low as $0.25 before starting another rally.
The Next Targets
The resurgence caught the eye of many analysts on X, some of whom predict that a new record price could be just around the corner.
The industry participant with the moniker Renksi claimed that those who sold their SPX holdings during the dip in March must be “in big regrets now.”
“In the meantime, SPX is aiming for a new ATH. Buy the fear, enjoy the ride, remember that,” they added.
Conversely, others warned about the risk of a short-term correction. The X user TRIGGER TRADES noted SPX’s strong rally, suggesting “a fractal pullback” might come next. However, the analyst expects this to be short-lived and eventually be replaced by a push to a new historical peak.
