While BlackRock’s Bitcoin (BTC) and Ethereum (ETH) moves continue to draw the most attention, one of its lesser-known assets has been quietly stealing the spotlight.
According to wallet-tracking data on Arkham Intel, SPX6900 (SPX), a satirical meme coin poking fun at the S&P 500, is now the third-largest holding in the fund’s crypto portfolio, behind only BTC and ETH.
The meme coin surged to a new all-time high of $2.27 on Monday, July 28, becoming the number one coin in terms of performance in the past 90 days.
Even more impressively, SPX has soared more than 80,900,000% since its 2023 debut, and technical indicators still show strong momentum.
SPX price analysis
SPX is currently trading at $2.13, down 5.89% in the past 24 hours but up just over 10% over the last week. With a market cap of $1.98 billion and around $94.28 million in daily trading volume, SPX6900 is now rated 52nd globally by market capitalization.
Technically, SPX is bullish, being above key Fibonacci support at $1.99, with its moving average convergence divergence (MACD) histogram remaining positive at +0.022.
However, the daily Relative Strength Index (RSI) sits at 73.06, suggesting overbought conditions.
Moreover, a breakdown below the $2.05 pivot could push SPX down toward the $1.93 support zone or lower.
Featured image via Shutterstock
