The SPX6900 token is attracting serious attention after a major breakout pattern formed overnight, sparking speculation of a fresh all-time high.
At the time of writing, the token is trading at $1.48, up over 10% in the last 24 hours and 14% over the past week, with daily trading volume exceeding $106 million.
Crypto analyst Bluntz shared an updated chart on social platform X, highlighting what he sees as a textbook accumulation breakout pattern. His Elliott Wave analysis suggests that SPX6900 may be entering a bullish wave three, often considered the strongest phase in such a formation. He noted, “ATH en route imo,” implying that a new record price could be imminent.
The chart also shows a 107-bar consolidation range, which appears to have concluded with a sharp upward move. The RSI sits around 69, nearing overbought territory, yet momentum remains strong.
Originally created as a meme token inspired by a fake S&P 500 ticker, SPX6900 has evolved into a heavily traded speculative asset. Despite its meme roots, its recent surge reflects growing demand for narrative-driven tokens in a volatile market landscape.
Still, analysts warn that while SPX6900 is seeing rapid growth, it remains a high-risk, low-fundamentals token—typical of speculative breakouts.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and has solidified his position with his thirst for knowledge, incredible dedication, and “detective-like” way of thinking. He not only covers a wide range of trending topics, but also writes remarkable reviews, PR articles, and educational content. His work has also been referenced by other news agencies.
Source: https://coindoo.com/market/spx6900-breaks-out-with-10-surge-eyes-new-all-time-high/