Meme Coin Industry Up 16% — Is the Final Super Cycle Here?

The meme coin market just recorded a 16% increase in a day, signaling a major price cycle. The upward momentum began after BONK appeared in Grayscale's Q3 restructuring list, quietly confirming that meme coins are part of a broader market structure.

In the past 24 hours, capital has started moving as if rotating into a real sector. From increasing trading volume to synchronized breakouts, signs are gradually becoming clear. The question is: is the meme coin super cycle truly happening?

Meme coin market capitalization exceeds $73 billion

In the past 24 hours, the total market capitalization increased to $73 billion, with a 16% increase and trading volume reaching $26 billion; numbers never seen since the peak altcoin rotation in early 2024.

But beyond the total, the distribution itself shows structural momentum.

Solana memes like BONK and WIF increased by over 12%. The "big dogs" like DOGE and SHIB also increased synchronously. Even marginal areas like 4chan tokens and speculative "Murad Picks" recorded double-digit increases.

Even Murad Mahmudov, once a maximum Bitcoin supporter, now supports meme coins as the next frontier of speculative attention. His current "Murad" picks — tracked on CoinGecko — include SPX6900, MOG, POPCAT, GIGACHAD, and APU, each seen as "pure exposure to cycle culture".

PEPE, supported by large purchase transactions and volume increase, led trading activity with a volume of $1.37 billion in 24 hours.

Statistical data shows a broad market rotation, with capital viewing meme assets as part of the overall narrative.

SPX6900 emerges as a top token

Amid the synchronized increase, SPX6900 has positioned itself as a token traders use to track the sector's health.

Although not an official basket or index, SPX has become a symbol of meta-meme exposure, a chart that many traders now reference when assessing broader meme sentiment.

SPX6900 is a native meme sector token that has become an unofficial market standard for tracking meme coin momentum.

Two key signals stand out:

• Number of holders exceeded 43,400, marking a local high
• Inflow to exchanges has decreased, indicating reduced selling pressure and increased confidence

This combination, with more wallets holding and fewer tokens sent to exchanges, suggests capital is rotating with medium-term intent. And since SPX's chart often moves ahead of tokens like PEPE, WIF, and BONK, it is now considered a sentiment indicator for the entire sector.

Although SPX does not represent a basket, its behavior is shaping the meme coin super cycle narrative structure.

SPX price action and BTC decoupling drive super cycle discussion

While sentiment and wallet data have created the foundation, SPX6900's price chart could trigger the next meme coin surge.

The token is currently trading at $1.67, only 1.7% below its All-Time-High of $1.74 — a level unseen in over six months. Importantly, SPX has converted $1.55 into support, indicating that the increase is not just a reaction; it has structural backing.

If the chart holds above that area, traders will watch $1.739 and higher as a breakout confirmation of sector-wide continuation.

The invalidation threshold is also clear. A continuous drop below $1.45 would break the price structure and potentially slow the broad meme surge.

This makes SPX one of the clearest risk-reward charts in the meme space, and its technical factors are increasingly used to assess the entire sector's health.

What adds weight to this argument is SPX's decoupling from Bitcoin.

In the past week, SPX has outperformed BTC relatively — rare in meme cycles, which typically follow Bitcoin's volatility.

This early leadership suggests the meme coin sector may no longer need BTC to break first. Instead, meme traders are using SPX as the momentum leader, using its structure as confirmation.

If a breakout above $1.77 occurs, it could trigger a new capital wave, not just into SPX but the entire meme coin ecosystem, reviving forgotten tokens and speculative branches.

In summary, SPX6900 could be the chart confirming whether this meme season is just a short surge or the true beginning of a meme coin super cycle.