Murad Mahmudov, a prominent crypto investor and advocate for meme coins, recently experienced a dramatic decline in his portfolio value. This comes at a time when the altcoin market shows little signs of recovery, raising doubts about the anticipated ‘meme coin season.’
Portfolio Value Plummets Over 80%
Murad’s portfolio value saw a sharp drop of over 80%, falling from its peak of $67 million last year to $11.5 million, according to data from Arkham, an on-chain analytics platform. While SPX6900 (SPX) remains the largest holding in his portfolio, representing 3.2% of the circulating supply, it has suffered a substantial decline in value. Despite SPX’s drop of more than 84% from its peak, Murad continues to hold all 30 million tokens, refusing to sell.
SPX, which once traded at a high of $2.20, is now hovering around $0.36—its lowest point since March 2025. Murad’s reluctance to take profits during SPX’s peak has wiped out nearly all the gains he accumulated over the past year. This has raised questions about the sustainability of a ‘buy-and-hold’ investment strategy in today’s highly volatile crypto market.
SPX Under Selling Pressure
Recent data from Nansen reveals growing selling pressure for SPX. With exchange balances surpassing 200 million tokens (over 21% of the circulating supply), concerns about further price declines are mounting. Capital outflows from SPX and other meme coins combined with a lack of confidence in the altcoin market have further exacerbated the situation.
Despite these challenges, Murad remains optimistic. In a recent statement, he described SPX as a “life-changing vehicle” that has the potential to transform lives. His patience has inspired other meme coin investors, but analysts warn that without a bounce-back in popularity and liquidity, these tokens may continue to struggle.
Lessons for Crypto Investors
Murad’s story serves as both a cautionary tale and a learning opportunity for new and seasoned investors. The performance of his portfolio highlights the inherent risks of speculative trading, particularly in highly volatile markets like cryptocurrency. While many investors have been inspired by Murad’s conviction, recent reports suggest that diversification and active risk management may be more effective than relying on a single strategy such as buy-and-hold.
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The Future of Meme Coins
The success or failure of SPX and other meme coins will likely play a pivotal role in shaping investor confidence and the market’s perception of these unique digital assets. Whether Murad’s steadfast strategy will eventually pay off or leave him with deeper losses remains to be seen. One thing is clear: the market for speculative cryptocurrencies is as unpredictable as ever, making caution and informed decision-making more essential than ever.
