💰 Meme Millionaire or Crypto Clown? 🤷‍♂️

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In the bustling world of cryptocurrency, where fortunes are made and lost faster than you can say “blockchain,” there stands a man, Murad Mahmudov, who has managed to turn a modest sum of under two million dollars into a staggering seventy million, all thanks to the whimsical world of memecoins. A feat so remarkable, it has sparked a heated debate over his controversial “supercycle” theory, which posits that meme-based tokens will outshine all other forms of crypto, driven not by financial models, but by the collective humor and shared beliefs of internet culture.

According to DropsTab, the bulk of Mahmudov’s gains came from SPX6900, a memecoin that has soared over 10,500% in the past year. He purchased SPX6900 at a mere $0.01, and now it trades around $2.24, netting him an estimated $66 million profit from that token alone. Other holdings, such as GIGA and SKIBDI, have also performed admirably, though not all of his bets have paid off. His stake in Apu Apustaja (APU) plummeted by 53%, leading to a loss of over $86,000, while losses on RETARDIO and POPCAT amount to around $490,000 and $270,000, respectively.

At Token2049 in Singapore last year, Mahmudov delivered a speech that was both prophetic and provocative. “These tokens are like online cults—driven by humor, shared belief, and internet culture,” he declared, “not financial models.” His thesis suggests that memecoins could outperform Bitcoin and Ethereum by harnessing collective human behavior rather than technical value. This view has gained traction as meme assets like DOGE, SHIB, and PEPE dominate social media and trading platforms.

However, not everyone in the crypto space is convinced. Blockchain investigator ZachXBT has raised eyebrows with allegations that Mahmudov might be buying up large amounts of tokens quietly before promoting them. In one instance, ZachXBT pointed to a wallet that acquired MIN tokens just an hour before Mahmudov publicly announced he had secured 1% of its supply. ZachXBT even shared wallet addresses allegedly linked to Mahmudov, allowing the public to trace his memecoin trades. As of now, Mahmudov has remained silent on these accusations.

With Mahmudov holding such a significant share of SPX6900, some fear that a mass selloff could send its price crashing, potentially undermining the “supercycle” narrative if one trader’s exit triggers broader panic. Meanwhile, the memecoin sector continues to heat up. The total market capitalization hit $85 billion on July 24, up from $55 billion on June 30—a 54% increase in less than a month.

Some industry leaders are embracing the meme wave. Xion CEO Anthony Anzalone noted, “Memecoins are now the most attractive part of crypto because people see fewer compelling alternatives.” Others, like Solana co-founder Anatoly Yakovenko, remain skeptical, dismissing memecoins and NFTs as “digital slop.” As Mahmudov’s portfolio surges and scrutiny grows, the future of memecoins—and the theory behind their rise—hangs in the balance, much like a punchline waiting to be delivered.

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2025-07-28 19:17