Blockchain Data Reveals Massive Memecoin Gains

Crypto analyst Murad Mahmudov reportedly holds $68 million in unrealized profits from meme-based digital assets, according to wallet data from aggregator DropsTab. The figures emerge as the market debates Mahmudov's controversial "memecoin supercycle" theory predicting cultural tokens outperforming traditional crypto assets.

SPX6900 Leads Portfolio With 10,500% Surge

The data shows Mahmudov's $1.86 million initial investment ballooned to over $70 million, with SPX6900 (SPX) accounting for most gains. The token's price jumped from $0.01036 to $2.24 within a year, generating 【$66 million】 in paper profits. Only Apu Apustaja (APU) showed losses at -53%.

Market Impact Concerns Emerge

Analysts warn Mahmudov's substantial SPX holdings could trigger volatility if sold. ——Any large-scale liquidation might signal the peak of his predicted supercycle——, potentially causing cascading sell-offs among retail investors following his trades.

The Supercycle Thesis Explained

Mahmudov's 2024 Token2049 presentation argued memecoins represent a new paradigm where community identity and virality outweigh technological fundamentals. The theory positions these assets as digital cultural movements rather than traditional investments.

Controversy Follows Profits

Blockchain investigator ZachXBT previously alleged Mahmudov manipulated markets by announcing positions after accumulating tokens. The claims referenced MIN coin purchases made one hour before public disclosure attempts.

July Sees 54% Memecoin Rally

The sector's valuation hit $85 billion this week before settling at $78 billion, still marking a 41% monthly increase. Industry reactions remain polarized, with some praising memecoins' accessibility while others like Solana's co-founder dismiss them as "digital slop."

Market Sentiment Divided

Neiro's community lead calls memecoins crypto's "most attractive segment," while Xion's CEO suggests their rise indicates limited quality investment alternatives. The debate continues as new tokens emerge daily across blockchain networks.