Influencer Murad Mahmudov’s wallet is showing a drop of 39% from the cult memes he holds. His wallets focus on special cult memes which are specially created tokens for holding. While those tokens have registered decline as high as 70%, they’ve seen community engagement boost their moves.
The difference in Murad Mahmudov’s wallet was that it focused on doxxing, which meant he was holding them long-term. He had been preaching to the community to hold the tokens, which meant that he couldn’t sell when it was high to avoid angering the community.
The influencer holds about $8 million worth of the SPX token, with the token costing around $0.29. The wallet saw a price push to $1.52 in January, but the wallet being doxxed meant that the influencer could not sell. He had been accumulating the token since the summer of 2024 when its price was around $0.01, meaning he is still in profit.
Murad remains optimistic as other cult tokens lose value
Other cult tokens have also seen a drop in their value, with GIGA witnessing a drop in its value after seeing a high of $0.8. GIGA became the first pump.fun token to see wide adoption, but has now fallen below $0.01. Murad was integral in the token achieving cult status but it was not enough to prevent its drop.
While most of these tokens have seen drops, their holders are still in gains, seeing as they still retain some of the value from the meme frenzy in 2021. In a recent tweet, Murad supported the token, calling for them to bounce back.
Meme coins have been seeing drastic drops over the last few weeks, pushing the entire market cap under $50 billion. The tokens are usually tied to the price action of Bitcoin, with the token now sliding under $80,000 as the wider crypto market continues to suffer.
While tokens like Libra have affected the confidence of traders, other new tokens are bringing in the heat. Investors are also flocking to these tokens as they continue to look for profits in the market. With this, Murad has mentioned that he is trying to select the best tokens to add to his portfolio so he can hold them long-term.