Meme Tokens and Their Value

Meme tokens typically erase over 99% of their value and lack fundamental support. However, influencer Murad Mahmudov’s portfolio, which includes cult tokens, is only down 39%.

Mahmudov’s Wallet Strategy

Murad Mahmudov’s wallets act as a benchmark for cult meme tokens, focusing on holding long-term investments. While these tokens have endured drawdowns of up to 70%, they have rebounded due to strong community engagement.

The unique aspect of Mahmudov’s wallets is that public scrutiny prevents him from selling. He promotes long-term holding and, due to the attention, cannot take profits without upsetting the community.

Notable Tokens

One of Mahmudov’s top picks is the SPX6900 (SPX), a cult token intended for long-term retention. Despite volatility and active trading, SPX serves as protection against less accountable coins. It has seen consistent user growth, particularly among investors spending over $10,000.

Interestingly, the only notable growth in March was for FARTCOIN as retail investors made small purchases.

Mahmudov’s wallet contains over 29 million SPX tokens, valued at more than $8 million at a token price of $0.29. The asset reached a peak of $1.52 in January, shortly after his wallets were doxxed, preventing profit taking.

Since summer 2024, Mahmudov has accumulated SPX tokens at prices around $0.01 or lower, maintaining a profit despite recent downturns. He has only minimally reduced his holdings from a peak of over 36 million tokens, which at one point had unrealized profits of up to $42 million.

Other Cult Tokens

Another cult token, Gigachad (GIGA), has also lost value, dropping from a peak above $0.08 to around $0.01. GIGA was the first widely adopted Pump.fun token, which Mahmudov helped promote, but it has not escaped market fluctuations.

Despite losses, GIGA and similar tokens have not vanished completely and retain some prior gains. Mahmudov continues to advocate for meme tokens’ potential recovery.

Market Trends

Historical behavior shows cult tokens oscillating between drawdowns and recoveries. Nonetheless, market sentiment shifts can discourage even committed holders. Current statistics reveal meme coins collectively under a $50 billion market cap, closely tied to the enthusiasm for Bitcoin (BTC).

After a trust wane in memes post-LIBRA, interest in searching for meme tokens is gradually recovering, suggesting resilience in this asset class. Mahmudov aims to identify viable long-term meme tokens for his portfolio, serving as a role model in the evolving landscape of meme assets.