The next Dogecoin and SHIB? A brief discussion on Murad’s SPX and GIGA

Author: Arain, ChainCatcher

Editor: Nian Qing, ChainCatcher

Have you ever met this person?

He has a muscular body, a wide and plump chin, and a toothy grin, showing off a mysterious smile.

Yes, this is just such a thing. It may not meet your definition of "sexuality", but on the current Internet, its hardware conditions are related to the definition of "sexuality", and he is "Gigachad".

We all know that "Meme theologian" Murad became famous because of SPX. Gigachad's Memecoin of the same name, GIGA, is also one of the Memecoins recommended by Murad. Recently, Murad stated on his social media that "#SPX6900 and GIGA will become the DOGE and SHIB of this cycle."

In the past week, SPX and GIGA had good performances. According to Coingekco data, SPX currently has a market value of approximately US$1.4 billion and is one of the top 10 Meme coins. It has increased by more than 80% among the top 10 Meme coins in the past week, leading the increase and even surpassing the currently popular ai16z. The performance of $GIGA is slightly weaker. The current market value is about 800 million US dollars, which happens to be the 15th largest Meme currency. It has risen by about 40% in the past week.

1. Murad who prefers cult memes

As one of Memecoin’s top KOLs, Murad’s current words and deeds have attracted much attention from the market, and even his words may become news.

Murad graduated from Princeton University. Before 2016, he worked in traditional financial institutions such as Goldman Sachs and Glencore. He later resigned to focus on Bitcoin. In 2017, he established the Adaptive Capital fund. Unfortunately, it suffered a plunge on March 12 in 2020. Insufficient facilities” closed down.

But Murad cannot be defeated easily. In 2022, he returned to social media with full blood and plunged headlong into the world of Meme coins. He proposed the Memecoin Supercycle theory, believing that Memecoin is "stealing" from value coins, acquiring attributes and speculative premiums, and is about to start a "Meme Supercycle". In the future, Memecoin will not just be an Internet joke, but will become a large number of enthusiastic followers. Legal investment assets. This view has caused investors to re-examine Memecoin.

SPX and GIGA are both Murad's first Memecoins. In addition, there are PEPE, SIGMA, APU and POPCAT, etc. Among them, SPX and GIGA are a group of Memecoins that Murad frequently mentioned - benchmarking SPX and GIGA respectively. Today, Memecoin’s largest currency is DOGE and its second largest currency is SHIB, which shows Murad’s expectations for these two Memecoins.

So why are these two Memecoins so attractive? So much so that it can catch Murad's eyes?

As we all know, Murad prefers the "cult attribute" Memecoin with medium and high market capitalization. Secondly, he mainly adopts the "price and belief index" investment strategy. This strategy believes that investors should look for projects with high belief but low price, that is, undervalued but meeting most of the screening conditions. Memecoin, these projects usually have only one or two indicators that are not up to standard, are easy to improve, and have extremely enthusiastic community support.

SPX and GIGA, one is a financial Meme and the other is a "sportsman" Meme (which can be understood as a cultural meme). They seem to be two types of Meme, but they have common characteristics: 1. Both are community-driven Memecoins. ; 2. It is supported by a centralized exchange;

2. SPX 6900: Fighting against finance and satirizing

the S &P 500 ********

Murad's love for SPX made him take the initiative to change his X profile to "SPX believer".

Let’s review Murad’s record on SPX: When Murad first held SPX, the market value of the currency was only US$10 million. Now it has risen to approximately US$1.4 billion, and Murad’s floating profit exceeded US$14 million.

The current market value of DOGE is about US$57 billion. If SPX continues to make another jump - good guy, this is ambitious enough, just like the story told by SPX. However, Murad believes that SPX has a chance to exceed $100 billion.

SPX, whose full name is SPX6900, benchmarks against the famous S&P 500 Index and wants to challenge this "giant" in the traditional financial world. But there is nothing to challenge this giant. It mainly relies on "dreams". Even the official website is run by fans, and it is stated on the Meme's website introduction: "SPX6900 token is a Memecoin, used for entertainment purposes only, and is not compatible with any No association with stocks, shares or securities is made. Any similarity or association between SPX6900 and 'Stock Market' is purely coincidental and is intended to be satirical or humorous."

Elon Musk once said , "Mathematically speaking , 6900 cannot be contained in 500. "

This sentence once confused people, and it was also posted on the SPX6900 website. Perhaps the number 6900 is the temperament of this Meme. The story of this meme is part of a financial protest movement that attempts to become the third story of retail investors versus institutions after Occupy Wall Street and Gamestop.

Therefore, the SPX6900 screams: "6,400 points higher than the S&P 500. A stock market "for the people." The SPX6900 sows the seeds of tomorrow's forests. The SPX6900 nourishes the souls and bodies of millions. The SPX6900 provides Serving you, your children and countless generations to come.”

In this sense, SPX6900 is similar to GIGA, with a somewhat evil spirit and culture.

In this culture, the sarcastic scenarios where Meme is used include the following:

• 6,900 traders symbolically "stormed" the New York Stock Exchange to argue that the SPX 6900 overtook the S&P 500.
• The U.S. Federal Reserve has been described as considering replacing U.S. dollar bills with SPX6900 tokens, capturing the sometimes speculative nature of cryptocurrency discussions.
• The fictional account of Fed Chairman Jerome Powell “supporting” the SPX6900 paints a hypothetical shift in financial policy.
• Fans of SPX6900 have jokingly proposed a “National Mary Rose Day” to celebrate the coin’s popularity.
• SEC Chairman Gary Gensler humorously expressed "regret" at not investing in the SPX6900, while former Treasury Secretary Janet Yellen enjoyed the hypothetical gains.

But, then again, SPX6900 initially had a development team. SPX was launched fairly in August 2023, but soon the developers caused panic in the community by abandoning the contract, locking liquidity for an extremely long time, deleting social media, etc. method withdrew from the project, and eventually the project community spontaneously took over SPX6900 will allow SPX to complete its transformation in 2024, making it a completely decentralized Memecoin project. All social activities are created and operated by the community, including meme creation, publicity and promotion, etc.; all initiatives are also driven by the community, such as Trading strategy formulation, ecological construction, etc.

BitMart Exchange was the first exchange to list SPX6900. Then, other exchanges such as Bybit also offered "olive branches". Currently, SPX6900 is expected to be listed on Binance.

3. GIGA : ****A male culture committed to fitness and

health****

Chad, this word first described those boys who were strong and simple-minded. Gigachad is an upgraded version of Chad. Simply put, it abandons simple-minded side effects while retaining the purity of the body. Therefore, Gigachad aims to be perfect, an epitome of a sportsman, and should not have any shortcomings.

Gigachad culture originated in 2017. At that time, someone posted related pictures online and said that "Bogdanov's genetic research has achieved remarkable results." This is obviously saying that Gigachad has an exaggerated lower jaw like Bogdanov. Also adding that the "perfect Gigachad" is destined to lead us against the Lizardmen.

In 2020, the meme "Average Fan vs. Average Enjoyer" became popular. Due to its image advantage, Gigachad became the representative of the "enjoyer" of the meme and was widely spread through meme videos. Its image originated from the artistic photography project of Lithuanian photographer Krista Sudmalis. The photos of model Ernest Khalimov (that is, "Gigachad" himself) were deeply Photoshopped to show exaggerated muscles and unique beauty, attracting the attention of a large number of netizens, thus forming a unique Internet culture phenomenon.

As Gigachad's popularity continues to increase, artists and models collaborated to launch the gigachad.army clothing brand and Gigachad NFT in 2021, realizing traffic monetization. Subsequently, the GIGA coin based on the "Gigachad" culture came into being, aiming to leverage the power of memes and "Chad" energy to attract community members to participate.

GIGA is a community-run project without centralized ownership, emphasizing the ideals of personal growth and self-discipline, echoing the strong and confident image displayed in the "Gigachad" culture. Community members participate in decision-making through the governance function and jointly promote project development so that the development direction of the project is consistent with the values ​​and goals of community members.

The GiGA community has made some achievements in fitness and health. The community has launched Giga Motion and Giga Fitness programs, focusing on the field of fitness and health, providing fitness challenges and merchandise, aiming to support community members in participating in physical and mental resilience exercises, and enhance the community's cohesion and sense of belonging. Community members responded positively to these programs and improved their health by participating in fitness challenges and purchasing related merchandise.

GIGA is currently endorsed by figures such as Ernest Khalimov himself, Mike O'Hearn and UFC fighter Paulo Costa.

Currently, GIGA can be traded on some centralized exchanges, and the most noteworthy thing is that it has been listed on well-known exchanges such as Coinbase (but not currently on Binance).

Murad believes that GIGA will become the largest Memecoin on Solana in the future and predicts that its market value will reach more than $5 billion in 2025.

However, according to Murad’s expectations, SPX can rush to the front. No wonder he calls himself a believer in SPX. However, it is still a bit difficult for GIGA to replace SHIB. In terms of expected income, it may be the next SHIB— —Can you appreciate GIGA’s aesthetics?