In short
CoinGecko's meme category surged over 16% in one day, pushing the total market cap to $73 billion.
SPX6900—The full market index for meme coins; trading price at $1.67, close to the historic high of $1.74.
As exchange inflows decrease and the number of holders skyrockets, whales are seizing billions of dollars.
The meme coin market has just recorded a 16% daily increase, heralding an important bull market cycle. BONK emerged after Grayscale's Q3 fund reorganization, with market momentum picking up, quietly confirming that meme coins have become part of the broader market structure.
In the past 24 hours, capital has begun to flow like it does in the physical realm. From rising volumes to synchronized breakouts, various signs are intertwining. So the question is back on the table: Is the meme coin supercycle really here?
Meme Coin market cap surpasses $73 billion.
In the past 24 hours, the total market cap surged to $73 billion, a 16% increase, with trading volume at $26 billion; these numbers have not been seen since the peak of altcoin rotation in early 2024.
But beyond the totals, the price spreads also indicate structural momentum.
Solana memes like BONK and WIF have surged over 12%. Dog-themed giants like DOGE and SHIB have also risen in tandem. Even niche verticals like 4chan tokens and speculative 'Murad Picks' have achieved double-digit growth.
Even former staunch Bitcoin extremist Murad Mahmudov now supports meme coins, viewing them as the next speculative hotspot. According to CoinGecko's tracking, his current 'Murad' recommended tokens include SPX6900, MOG, POPCAT, GIGACHAD, and APU, each considered 'pure meme exposure' in the cultural cycle.
Driven by a surge in whale buying and trading volume, PEPE leads trading activity with a 24-hour trading volume of $1.37 billion.
Statistics indicate a coordinated rotation across the entire market, with capital viewing meme assets as part of a shared narrative.
SPX6900 has become the leading token.
In a coordinated rebound, SPX6900 positions itself as the token traders use to track the health of the industry.
Although SPX is not an official basket or index, it has become a symbol of meta-meme exposure, with many traders now referencing this chart when measuring broader meme sentiment.
SPX6900 is the native token of the meme industry, having become the unofficial benchmark for tracking meme coin momentum in the market.
There are two key signals that stand out:
The number of cardholders has surged to 43,400, setting a local record.
Exchange inflows have decreased, indicating reduced sell pressure and increased confidence.
The increase in tokens held in wallets, coupled with a decrease in tokens sent to exchanges, suggests that funds are rotating with mid-term intent. As SPX's chart typically leads tokens like PEPE, WIF, and BONK, it is now seen as a representation of overall industry sentiment.
While SPX does not represent a basket of currencies, its behavior is shaping the narrative structure of the meme coin supercycle.
SPX price action decoupling from BTC fuels supercycle discussions.
While sentiment and wallet data lay the groundwork, the price chart of SPX6900 may trigger the next round of meme coin increases.
The current trading price of the token is $1.67, just 1.7% lower than its historical high of $1.74—this is the highest level in over six months. Crucially, SPX has flipped the $1.55 support level, indicating that this rebound is not just a passive reaction, but has structure behind it.
If the chart stays above this area, traders will focus on breakout levels at $1.739 and higher to confirm a continued rise across the industry.
Invalid factors are also evident. Continuing to fall below $1.45 would break the bullish structure and potentially hinder a broader meme rebound.
This makes SPX one of the clearest risk-reward charts in the meme space, with its technical indicators increasingly used to gauge the health of the entire industry.
The decoupling of SPX from Bitcoin strengthens this argument.
In the past week, SPX has outperformed BTC—rare in meme cycles, as they have historically followed Bitcoin's fluctuations.
This early lead suggests that the meme coin space may no longer need BTC to break out first. Instead, meme traders tend to view SPX as the momentum leader in the space and use its structure as confirmation.
If it breaks $1.77, it could trigger a new wave of capital inflow, not only into SPX but also into the entire meme coin ecosystem, reigniting forgotten tokens and speculative forks.
In short, SPX6900 can serve as a chart to confirm whether this meme season is just a brief rebound or the true beginning of the meme coin supercycle.
