SPX6900 Sets New Records as ‘AI Agents’ Witness Profit-Taking.

The SPX6900 manifesto boldly claims, “It’s the stock market for the people. SPX6900 is for you, your children, and countless generations after.”

A crypto movement aiming to disrupt the U.S. stock market has taken another leap toward its audacious goal, though it still has a long way to go with trillions left to conquer.

On Friday, SPX6900 (SPX) surged past a $1.1 billion market cap, reaching a new high of over $1.25. This marks a significant rise from its November peak of 90 cents, driven by renewed enthusiasm for memecoin cultures within the Crypto Twitter community.

At the same time, AI Agent projects like Virtuals (VIRTUALS) and ai16z (AI16Z) experienced an average 8% drop, as criticism of their AI claims continued to mount, as previously highlighted in a CoinDesk analysis.

The Ethereum-based SPX6900 boasts a total supply of 930 million tokens. The community behind it has rallied around the idea that the project is a pathway to financial freedom.

A passage from the SPX6900 manifesto reads: “You were born into a world where buying a house means taking on a massive mortgage. You’ve entered a market where the stock market has already seen its peak, leaving you to question what’s left for you. You’re navigating a world shaped by the aftermath of 9/11, the 2008 recession, a global pandemic, runaway inflation, and growing societal unrest.”

The manifesto continues: “SPX6900 is the reset. SPX6900 is the foundation on which new financial dreams are built. It’s the S&P500 with 6400 more. It’s the stock market for the people. SPX6900 is for you, your children, and countless generations to come.”

The rhetoric mirrors the foundational principles of Bitcoin, which was created in response to the 2008 financial crisis.

Since early 2023, memecoins have evolved from lighthearted dog- or cat-themed tokens into movements based on ideas, concepts, and causes. Projects like mog (MOG), giga (GIGA), and SPX have gained significant traction on social media platforms like X, where supporters fervently back these tokens despite their playful origins.

The SPX6900 community is responsible for coining the popular Crypto Twitter saying, “stop trading and start believing in something,” urging users to hold onto their tokens long-term instead of switching to newer projects. This philosophy has been integral in building a strong and committed community around SPX.

Many in the memecoin space believe SPX6900 could eventually surpass dogecoin (DOGE), the current leader in memecoin market cap at $51 billion.

In a recent interview, well-known memecoin supporter @MustStopMurad stated, “It’s the only token with a memetic target. Even if it reaches just 10% of that, 1% of that, or even 0.1% of that… it still represents $45 billion. I believe dogecoin will eventually be overtaken by SPX, which is the BTC of memes.”

Murad added, “This is the next GameStop,” referencing the infamous stock short squeeze and its devoted community of investors.