<div id="readability-page-1" class="page"><p>SPX6900 [SPX], the Ethereum [ETH] network memecoin that is meant to be a parody of the S&amp;P 500 index, has rallied 10.2% in the past 24 hours. The daily trading volume was not convincing either, down 38.2% from the previous day’s sizeable sell-off.</p><p>Over the past week, SPX has shed 8.79%, and was down 51.95% in 30 days. These figures might sound dreadful, especially if one is more used to trading and investing in traditional markets that the memecoin aims to flip in size one day, but they were the norm in the memecoin sector.</p><p>The sector’s market cap has fallen 35% in 30 days. The leader Dogecoin [DOGE] was down 33% in a month, giving context to the more volatile SPX performance.</p><h2><strong>The chances of an SPX resurgence</strong></h2><p>Buyers beware. Short-term holders trying to flip an SPX bounce for profit could have a good time. Bitcoin [BTC] bounced 19.59% on the 6th of February, from $60k to $71.7k.</p><p>The memecoin rallied 41.15% on the same day, from $0.2214 to $0.3125.</p><div id="attachment_568528"><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/SPX-1-week-Chart.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1609" height="993" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/SPX-1-week-Chart.png"/></p><p id="caption-attachment-568528">Source: SPX/USDT on TradingView</p></div><p>The weekly swing structure remained bullish. The $0.2533 low from March 2025 has not been broken by a weekly session close below it. However, Bitcoin has a bearish weekly structure.</p><p>Buying SPX might seem like a steep discount right now, but there’s nothing to stop it from making new swing lows should BTC retreat to $60k or lower once again.</p><h2><strong>Should traders sell the bounce?</strong></h2><div id="attachment_568532"><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/SPX-1-day-Chart.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1609" height="993" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/SPX-1-day-Chart.png"/></p><p id="caption-attachment-568532">Source: SPX/USDT on TradingView</p></div><p>The past two months’ price action highlighted the $0.45 level as a prominent horizontal S/R level. In November and December, SPX bulls defended this support valiantly, but lost it in mid-January.</p><p>It marked the 50% retracement level for the latest bearish swing move on the daily timeframe. The technical indicators showed high selling pressure and firm downward momentum.</p><p>Traders can use a bounce to this level to sell the memecoin. It is possible, though unlikely, that the bounce might climb as high as $0.58-$0.678.</p><p>Therefore, investors need to be prepared for extreme volatility in either direction and keep an eye on BTC trends to assess what SPX is poised to do next.</p><hr/><h2>Final Thoughts</h2><ul><li><em>SPX6900, the traditional stock market index parody meme, has fallen to its 2025 swing low support.</em></li><li><em>It was a risky buying opportunity with a high chance of failure, but it could reap high rewards. More risk-averse traders can wait for a retest of key resistances to sell.</em></li></ul><p><strong>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</strong></p></div>

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<p>SPX6900, a memecoin parodying the S&P 500, has seen a 10.2% rally in 24 hours but is down 8.79% over the week and 51.95% in 30 days. The memecoin sector's market cap has dropped 35% in the last month. While SPX's weekly structure remains bullish, the bearish trend in Bitcoin raises concerns about further declines. Traders are advised to consider selling on potential bounces, particularly around the $0.45 resistance level, while being prepared for high volatility. The situation presents a risky buying opportunity with uncertain outcomes.</p>

- SPX6900, an Ethereum network memecoin, has recently increased by 10.2%, though its trading volume declined by 38.2% following a sell-off.  
- Over the past month, SPX has fallen 51.95%, mirroring a 35% dip in the memecoin sector's market cap, with Bitcoin's trends impacting its potential recovery.  
- Investors should brace for volatility, as while a rebound might create selling opportunities, there's a risk of further declines if Bitcoin retreats.

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SPX6900 tests 2025 lows: Why SPX’s quick recovery looks unlikely