Content Writer
Harvey Hunter
Content Writer
Harvey Hunter
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What began as a shakeout of weak hands has spiralled into an exodus, with bearish sentiment over the past week weighing heavily on SPX6900 price predictions.
The meme coin is down 26% as the biggest loser in the top 100, fuelled by hotter-than-expected U.S. PPI inflation data, which dented hopes for a September rate cut.
Still, analysts anticipate up to four rate cuts before year-end, with the potential to stimulate new demand for risk assets like cryptocurrencies.
Have Traders Given Up On SPX?
Coinglass derivatives data shows speculative demand for SPX fading, with open interest plunging over 50% since the start of the month as derivatives traders move to the sidelines.
Those still active in the market are largely betting on further downside, with a long/short ratio of 0.61 on Binance showing more than 62% of traders shorting the SPX6900 price.
Yet while short-term traders appear to be abandoning the meme coin, whales are buying-the-dip. On Sunday, SPX was the most bought Solana-based token among smart money.
SPX6900 Price Prediction: Has Low Can SPX Go?
While SPX has seen support from smart money, the breakdown of the ascending channel that guided its rise stands to see the correction go much lower.
Momentum indicators point to sellers in control. The MACD line continues to widen below the signal line, suggesting a mid-term downtrend has taken root.
The RSI sits at 40, with room to fall before reaching the oversold threshold at 30, typically a zone where seller exhaustion forms a bottom.
SPX6900 now tests a critical support at $1. A failure to hold this level could trigger a full breakdown, targeting $0.70 and a further 50% decline from current prices.
With the September FOMC meeting still a month away, potential rate cuts remain distant, leaving SPX without a near-term catalyst to halt the slide.
SPX6900 Sellers Could Be Eying An Early Alternative
Every bull run has a handful of tokens that explode because the community rallies behind them.
SPX6900 saw that momentum tip into full-blown cultism, leading the “mission coin” narrative that has delivered some of this cycle’s top performers.
Now, TOKEN6900 ($T6900) is shaping up to be its successor. As SPX holders take profit, T6900 is still early enough for new buyers to jump in before the real hype begins.
It offers no promises, no utility, because you are the utility. It offers nothing, and yet it is everything you are looking for. Blind devotion is often how billion-dollar meme coins begin.
TOKEN6900 is an escape from the misery of a late-internet capitalist dystopia to a fantasy inspired by 2000s nostalgia, fed by nothing but a desire to escape the ritual of the financially doomed: the 9-to-5.
The community is already growing fast, raising over $2.1 million within weeks of presale as its earliest disciples are rewarded by a 33% APY on staking.
You can assimilate with Token6900 on X, Instagram, or join the presale on the Token6900 website.
Click Here to Participate in the Presale
