$68M Gains Highlight Memecoin Supercycle Trend

Key Takeaways

• Murad Mahmudov, who popularized the memecoin supercycle, holds over $70M in meme-based tokens.
• His biggest win, SPX6900, has returned over 10,500%, adding $66M to his portfolio.
• Some in the crypto community view his activities as market manipulation, while others see him as a visionary.
• The memecoin market reached $85B in July 2025 before correcting to $78B.
• Industry opinion remains split: Some celebrate memecoins as cultural assets, while others question their long-term value.

Fueling The Memecoin Supercycle Narrative

According to data from DropsTab, Mahmudov’s wallets show staggering gains, largely driven by a single high-performing asset.

Murad’s Personal Memecoin Holdings

Source: DropsTab

The data sheds light not just on Mahmudov’s investment prowess but also on the growing belief that we’re in the midst of a memecoin supercycle, a market phenomenon where meme tokens outperform traditional cryptocurrencies by wide margins.

$70M In Holdings From A $1.86M Investment

Data aggregated by DropsTab reveals that Mahmudov has invested just $1.86 million into various memecoins. Yet, as of late July 2025, his portfolio value has ballooned to over $70 million, representing an unrealized profit of approximately $68.3 million.

Top Performer: SPX6900 Skyrockets Over 10,000%

The standout in Mahmudov’s portfolio is SPX6900, a memecoin that has surged over 10,500% within a year. Mahmudov reportedly entered SPX at just $0.01036, a token that now trades around $2.24. His holdings in SPX alone have contributed over $66 million to his unrealized gains.

Worst Performer: Apu Apustaja (APU)

On the flip side, APU has been the weakest link, dropping more than 53% and resulting in a loss exceeding $86,000. While notable, this decline barely dents the overall profitability of his portfolio.

The End Of the Memecoin Supercycle?

With tens of millions of dollars in SPX, analysts warn that any major sell-off by Mahmudov could significantly impact the token’s price. Given his public endorsement of these projects, a large-scale liquidation might signal to investors that the memecoin supercycle is nearing its peak.

Memecoin Market Capitalization Surged To $85 billion In July

Source: CoinMarketCap

His influence has created a unique market dynamic, his moves may now dictate market sentiment more than any technical analysis or macroeconomic trend.

A New Era In Crypto Markets

Mahmudov first presented the memecoin supercycle concept during a keynote speech at Token2049 Singapore 2024.

He argued that we are in a novel phase of the crypto market, one where meme-driven assets outperform even Bitcoin and Ethereum not because of fundamentals, but because of community-driven momentum.

Driven By Culture, Not Code

Unlike traditional digital assets that derive value from technology and utility, memecoins thrive on virality, community identity, and internet culture.

According to Mahmudov, they act more like digital cults than financial instruments, often gaining traction through humor, memes, and collective belief.

Transparency Or Market Manipulation?

Accusations From Crypto Investigator ZachXBT

Not everyone is on board with Mahmudov’s vision. In 2024, blockchain sleuth ZachXBT publicly linked a set of wallets to Mahmudov and began monitoring his memecoin activity. He accused the influencer of manipulating token supply and timing posts to pump his holdings.

One notable case included a wallet purchase of MIN tokens just an hour before Mahmudov posted that he had acquired 1% of the supply, a move many saw as orchestrated.

Industry Sentiment: Divided Views

• Neiro’s community lead described memecoins as crypto’s “most attractive segment.”
• Xion CEO Anthony Anzalone interpreted the rise as a sign of capital displacement, suggesting money has “nowhere better to go.”
• Solana co-founder Anatoly Yakovenko, meanwhile, sparked backlash by calling memecoins and NFTs “digital slop.”

FAQ

What is the memecoin supercycle?

The memecoin supercycle is a market theory proposed by Murad Mahmudov, suggesting that meme-based tokens can enter extended bullish periods, outperforming traditional cryptocurrencies due to viral appeal, not fundamental utility.

Who is Murad Mahmudov?

Murad Mahmudov is a prominent crypto investor and influencer known for promoting the memecoin sector. He previously worked at Goldman Sachs and has gained a large following for his market theories.

How much profit has Mahmudov made from memecoins?

As of July 2025, Mahmudov is sitting on an estimated $68 million in unrealized profits from memecoins, most notably from SPX6900.

Could Mahmudov selling his holdings crash the market?

Potentially, yes. Because of his influence and large positions, any significant selling activity could negatively impact prices, especially in low-liquidity memecoins.

Is the memecoin supercycle sustainable?

Opinions vary. Supporters believe it represents a new frontier of cultural finance, while skeptics argue that it’s a bubble driven by hype, not value.