This is a message to everyone holding that SPX 6900 meme coin, which is abbreviated SPX. I am giving you this out of love because I genuinely care about your success as a crypto investor. This is not financial advice and I am not a financial advisor. For full transparency, I hold tens of thousands of ICP myself, so you can see exactly where my own position sits. I have been in crypto for 11 years now, and I have mostly made profits over that time. In fact, I have made profits 10 years in a row. Over those years I have reviewed thousands and thousands of altcoins, and I just took a fresh look at SPX 6900 after Superman Crypto asked me to make a video about it.
What I See When I Look at SPX 6900
From what I can tell, this is a meme coin, and it already has a fully diluted value of $605 million. To break out meaningfully from there is a tall order. Yes, it did hit $1.50 at one point, and again, this is not financial advice. But in my experience, it is very rare for a meme coin to climb much higher than that, because you need more and more money flowing in to push the price up. Look at the landscape: Dogecoin sits around $27 billion, Shiba Inu is around $8 billion right now. When you see how many meme coins there are and how few of them ever make it from where SPX 6900 currently is to any height above that, the competition up there gets absolutely insane.
My very first thought when I saw this was that it is never going to go anywhere with that name. Look at the top memes. Dogecoin was simply one of the earliest memes. Shiba Inu is a dog that everybody recognizes. Pepe is a viral frog meme that people already know. But SPX 6900, to me, just does not have what it takes to climb to the top of the meme game. As a meme coin, it is extremely limited in how much real utility it can legally have. And when you look at it as a cult coin, branding is everything. I have my own little Jerry Banfield JBBJ cult coin. I created it and the community owns 98 percent plus of it. The branding is all based on me and the community, and that makes it very obvious what it stands for. If you do not have branding that will absolutely last the test of time, as people launch a million other meme coins, then in my view you are not going to make it.
The Question of Opportunity Cost
Now, SPX has certainly done well to get where it is today. But the real question is opportunity cost. Opportunity cost means that if you are holding one coin, you cannot hold another coin in that same spot. If you are monogamous like me, you can only have one wife. You cannot have another wife at the same time, at least not if you are playing by the rules. If you are some quantum-reality person who can hold all these different coins across all the different worlds, then I think you would have something better to do than make money. But if you are like the rest of us, then anything you have parked in SPX is money you cannot have in something else.
Based on the price chart, it looks to me like you already missed the action. If you were in this before the big pump, you have probably dumped already. If I held this, I would be taking profits now or looking for a better investment, because with meme coins you generally make the massive money by getting in early. Once you are in late, it generally is not going to happen for you.
I went and looked at the website for this, and I am intentionally not putting anything on screen here, because you can go look this stuff up yourself. If I do not show anything, there is almost no angle to attack my review on. When I go to the website, there is nothing there that says this is special, this is different. I do not see that thing that carries the trappings of something that will really last the test of time. I should be able to see it, and I do not. I have looked at thousands of altcoins. I saw Pepe before it went off. I have seen a bunch of coins early on, and with some of them it definitely looked like this has what it takes. But this is a meme, and this meme is too complicated. It is too niche.
Why the Meme Itself Falls Short
Do you notice how the memes I mentioned before all work? Dogecoin is a dog coin, utterly simple. Shiba Inu, utterly simple. Pepe the Frog, utterly simple. With SPX 6900, I had to stop and look. I did not understand the reference at first. Then it clicked: oh, the S&P 500. The meme is that SPX 6900 is more than the S&P 500. That is just too niche of a meme to carry a coin to the top.
I also do not see any person behind this. You have something like Hex with Richard Heart standing in front of it. With SPX, I do not immediately see anybody. My own little meme coin has me behind it. You need some kind of brand. Dogecoin did not necessarily have anybody specific behind it, but that was the very first meme, and as I said, it is a big general meme anybody can easily understand. SPX 6900 has neither of those advantages.
I made this because I think it is really valuable, in a world where people get paid to hype things up and say everything is going to 1000x, to be the voice that says the opposite. The voice that says: most of the time, with most coins, you are going to lose money investing in them. That is just cold, hard facts as I have lived them. SPX 6900, to me, does not look like an exception to that pattern. If you want more of my honest take on building and protecting wealth, you can dig into my Money playlist.
That said, this is not financial advice. I am not a prophet or an oracle who knows what is going to happen in the future. I just believe that if you are looking at this coin, researching it, or already holding it in your portfolio, this is information you should think about and digest. I am not telling you to do anything. I recorded this live in response to Superman Crypto, and I have shared it because I would rather give you the honest, uncomfortable view than another round of hype.