The highly anticipated altseason is finally underway, as evident by the rapidly falling Bitcoin Dominance (BTC.D) and a strong rally in the ETHBTC trading pair.
Capital is rotating out of Bitcoin and into higher-beta altcoins, with meme coins leading the charge once again.
The popular Solana meme coin, SPX6900 (SPX), is back among the top gainers, hitting a new all-time high of $1.90 late on Wednesday.
The SPX price surged by over 12% on Wednesday despite a pullback in the closing hours.
With a broad-based altcoin rally now underway, sidelined investors are rushing to invest in undervalued meme coins.
Considering that the likes of Dogecoin and Shiba Inu can only offer limited returns due to their high market capitalization, smart money investors are heavily investing in mid-caps like Moo Deng and Useless Coin and low caps like TOKEN6900.
SPX6900 Price Prediction – FOMO Buy Now or Wait For a Better Entry?
SPX6900 continues to be one of the best meme coin investments, further confirming that no-utility memes like Pepe and Fartcoin will be among the top performers of this bull cycle.
After nearly a week of consolidatory price action, the SPX price hit another all-time high, peaking at $1.90 and a fully diluted market capitalization of $1.90 billion.
SPX broke through the key $1.70 resistance level in Wednesday’s rally. Moreover, the meme coin appears to be moving within an ascending broadening wedge, as is shown in the price chart above.
SPX6900 appears to have rejected from the upper trendline of the wedge, and could therefore see a pullback to the $1.70 S/R level. A successful retest of this support would present an excellent buying opportunity and prevent a deeper pullback to the lower trendline.
On the contrary, sidelined investors can also buy if the meme coin breaches the upper trendline of the wedge shown in the price chart above. Indeed, SPX’s daily RSI is at 67 and the 4-hour RSI is at 63, both indicating that the token still has significant short-term upside.
However, opening a leveraged long trade here would still be a risky proposition, and traders should ideally wait for a successful retest of the $1.70 S/R.
Nonetheless, SPX remains an attractive meme coin investment in the long term. Popular trader Astekz has called its price chart “the best chart in the market”.
In a recent SPX6900 price prediction, legendary trader Bluntz has used Elliot Wave analysis to give a price target of $2.30 for July.
The bulls continue to claim that SPX will reach $10 in 2025 as it continues to be one of the top gainers in the ongoing bull cycle.
Which Meme Coins Are Undervalued Right Now?
Those who aren’t analysing charts daily may have missed Wednesday’s SPX6900 rally, owing to its consolidatory price action over the past week.
As sidelined investors hunt for undervalued meme coins, Moo Deng has emerged as an attractive buy. Data from Stalkchain reveals that it was the most bought token by smart money wallets on July 16th. Such accumulation often precedes a breakout.
A breach of the $0.215 resistance could trigger an explosive rally.
Similarly, smart money investors should keep an eye out for any dips in the Useless Coin. Much like Fartcoin and SPX6900, it is also a high-upside, no-utility meme coin.
In fact, a low-cap alternative, TOKEN6900 (T6900), may be the best meme coin to invest in the no-utility meta.
TOKEN6900 is a genuine low-cap gem. Its ongoing presale has a hard cap of $5 million. Even those buying at the end of the presale could see multiple times returns if the meme coin even sees a fraction of Fartcoin and SPX6900’s success.
However, its presale is selling out fast, with over $600k raised in just a few days.
With SPX6900 hitting a new all-time high and on the move again, TOKEN6900, which is branding itself with the same delusional humour, could see a significant surge in its demand.
Many smart money investors have already bought early, with some eyeing up to 100x returns from it.
Visit TOKEN6900 Presale
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