- SPX memecoin surged 148% in 13 days after bouncing from its all-time low of $0.25.
- Rising open interest and bullish chart signals hint at continued momentum toward $0.67.
- If profit-taking kicks in, SPX could dip back down to around $0.40.
SPX, an Ethereum-based memecoin that most folks probably hadn’t heard of until recently, just pulled a slick move—it’s up 20% today, now trading at around $0.62, the highest it’s been in nearly two weeks.
That’s a wild bounce, especially considering it tanked to an all-time low of $0.25 not even two weeks ago. Seems like buyers smelled opportunity, and well… they pounced.
From Bottom Feeder to Skyrocket: SPX6900 Shoots Up 148% in Less Than Two Weeks
On March 11, SPX hit rock bottom—$0.25. Not a great look, but it didn’t stay down for long. Buyers rushed in, the price started crawling up, and now, it’s basically sprinting. In just 13 days, the token jumped a ridiculous 148%, now sitting just above $0.61.
Zoom out a bit and the chart’s kinda pretty. The memecoin is inching close to breaking above the Leading Span A on its Ichimoku Cloud—a key resistance zone that traders usually watch like hawks.
If it breaks above that level? Things could heat up fast.
What’s the Deal With This Ichimoku Stuff Anyway?
Alright, let’s break it down without going full nerd-mode. The Ichimoku Cloud is basically this visual tool that shows momentum and trend directions. When the price tries to break above that green Leading Span A line, it’s like the market is saying: “Hey, we might be onto something bullish here.”
Right now, SPX is right at that point. So if demand keeps rising and volume holds up, we could be looking at a breakout. Not guaranteed, obviously. But the pressure’s building.
Open Interest Is Rising Too—That’s Usually a Good Sign
Another thing to keep an eye on is Open Interest (OI)—basically how many futures contracts are open on SPX. Since March 11, OI has jumped 50%, now sitting at about $21 million.
That rise in OI with price going up? Usually means more people are betting on this thing, and not just flipping it for fun. There could be fresh capital entering the scene, which supports the bullish case even more.
SPX Stays Above the Trendline—Eyes on $0.67
Since the rebound started, SPX has been hugging an ascending trendline, making those classic higher-lows. That’s what bulls want to see. If momentum holds up and it pushes through the current resistance, we might see it tap $0.67 next.
But—and yeah, there’s always a but—if traders start locking in profits too soon (which memecoin people love to do), we could see a dip back to $0.40. That wouldn’t kill the trend entirely, but it’d definitely cool things down.
Bottom Line? Keep One Eye on SPX
SPX is making noise again, and while it’s too early to call it a full recovery, there’s real movement here. Price action’s strong, indicators are leaning bullish, and market interest is heating up. Could be a flash in the pan—or the start of something a bit bigger.
Just… don’t FOMO in blind.
