Meme Investor Turns $387K Into $23M in Four Months in SPX6900 Trading

• Murad Mahmudov turned $387,000 into $23.6M by investing in SPX6900 meme coin within just four months.
• Murad’s activity in meme coins, including SPX6900, has garnered significant attention due to his rapid success.

Popular meme coin trader Murad Mahmudov has made headlines for using just four months of trading the memecoin SPX6900 to turn a $387,000 investment into an amazing $23.6 million. Many in the crypto community are astounded by this accomplishment—a stunning 61x return on investment.

Murad’s method, unlike many speculative traders, was buying more than 35 million SPX tokens between four wallet addresses between June and August 2024. His gains grew along with the value of these tokens, which surged to multi-million dollar levels, so matching his initial outlay.

Murad turned $387K into $23M in just 4 months investing in a memecoin called SPX6900.

That’s a massive gain of 61x. pic.twitter.com/9ZfrM6TZKl

— Lark Davis (@TheCryptoLark) October 13, 2024

Murad Trading Activity Draws Close Scrutiny Amid Market Influence Speculation

Murad’s behavior has caught the attention of crypto analysts and blockchain researchers, some have even followed his wallet travels. Along with SPX6900, he also owns a variety of meme coins on blockchains, including Ethereum and Solana.

Drawing both praise and criticism, his trading techniques have earned him a focal point in the meme coin space. Blockchain experts have also connected Murad to eleven different wallets, all of which exhibit similar trading habits and feature about $24 million in different meme coins.

This significant accomplishment in meme coin trading has sparked rumors about Murad’s influence perhaps altering markets. Given even small changes in his holdings could cause major price volatility, his fast and large investments beg issues regarding possible market manipulation.

Now under close observation, the crypto community is fearful of any significant sell-off or strategic change that would rock the meme coin market from the wallets linked to him.

Murad’s trading approach’s emphasis on timing and market cycles intrigues the follower. He has openly discussed the possibility of a “Supercycle” in the crypto market, speculating that more general acceptance and cultural changes could start a longer period of market expansion.

But the erratic character of meme coins introduces a degree of risk for investors negotiating this erratic terrain.

On the other hand, as we previously reported, nine memecoins—including well-known names like DOGE, SHIB, WIF, POPCAT, and PEPE—have ascended into the top 100 cryptocurrencies by market cap.