SPX6900 sees sell pressure from holders: Will SPX continue declining?

The article reports strong sell pressure on the memecoin SPX6900, driven by on-chain selling from smart-money wallets, whales and promotional public accounts. Market cap fell from a $2 billion peak to $300 million (an 86% decline), and the token lost about 10% in 24 hours while memecoins broadly fell 4.27%. Exchange balances rose ~14% (≈6.59M SPX), signaling more tokens were being prepared for sale. Although the top 100 addresses added ~41.08M SPX (+8%), this inflow didn’t offset widespread liquidation. Price action broke below $0.3764 (near the 100‑DMA $0.3799) and CMF sits negative (-0.15), confirming selling bias; a further drop toward $0.2530 is possible if weakness continues. Overall implications point to heightened downside risk and elevated volatility for the token and related memecoin market activity.