The S&P 500 reached a historic high of 6,227.41 this week, marking its third record close amid trade deal optimism and a 10% quarterly gain. This traditional market strength has historically correlated with crypto bull runs, as evidenced by the 2017 rally and confirmed in a 2023 study linking Bitcoin/Ethereum movements to equities.
Ethereum-based memecoin SPX6900 capitalized on this momentum, rallying 7% in 24 hours to trade at $1.28 and posting a 6,600% annual gain. The token recovered swiftly from a 10% Monday drop after whales absorbed $2.8M in selling pressure. With 40% of supply now held by whales and neutral funding rates, analyst BLEDI tweeted bullish projections: "Imagine where we can go in the next year." Technical charts show a bullish flag pattern and RSI rebounding above 50, while Blackrock's $100,000 holding signals institutional interest.
New presale TOKEN6900 raised $125,000 in three days as its "chaotic sequel" to SPX6900 gained traction. Marketed as having "no utility, no roadmap, and no financial deliverables," it offers a 930,993,091 token supply (one more than SPX6900) at $0.006425. The presale features an 80% public allocation, $5M hard cap, and a staking vault with 352% APY already locking 13.2M tokens.