{"id":7797,"date":"2025-05-28T16:51:37","date_gmt":"2025-05-28T15:51:37","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=7797"},"modified":"2025-05-28T16:51:38","modified_gmt":"2025-05-28T15:51:38","slug":"spx-24-percent-surge-reasons","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/spx-24-percent-surge-reasons\/","title":{"rendered":"SPX Explodes 24% in 24 Hours : What\u2019s Fueling the Surge ?"},"content":{"rendered":"\n

SPX6900 : 24% Increase and Bullish Momentum<\/h2>\n\n\n\n

The cryptocurrency<\/a> SPX6900 (SPX)<\/strong> has experienced a spectacular 24%<\/strong> increase in the last 24 hours. It reached a peak of $1.0179<\/strong>. This impressive surge was accompanied by a significant spike in trading<\/a> volume. It surged by 184.91%<\/strong> to reach $140.21 million<\/strong>.<\/p>\n\n\n

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\"SPX
Source: TradingView<\/figcaption><\/figure>\n<\/div>\n\n\n

The increase in trading volume and price rise indicate a strong demand for SPX. New investors are entering the market, boosting interest in this memecoin. Analysis from Coinalyze<\/em> shows that buyers have clearly taken control of the market, grabbing 1.27 million SPX<\/strong> with a positive delta of 506,000 tokens<\/strong>.<\/p>\n\n\n\n

Futures Market Creating Upward Pressure<\/h2>\n\n\n\n

The bullish sentiment<\/strong> has also extended to the derivatives market. Open interest in SPX6900 surged by 34.2%<\/strong> to reach $64.4 million<\/strong>, indicating that traders are opening new long positions. The long\/short ratio shows that long positions account for 51%<\/strong> of futures contracts, suggesting that most investors are betting on a further<\/strong> price increase<\/strong>.<\/p>\n\n\n\n

According to AMBCrypto<\/em> analysis, SPX6900 could experience a strong bullish momentum supported by organic demand. The memecoin has made a bullish crossover on its RSI<\/strong>, indicating that buyers are dominating the market. However, the RSI is approaching overbought levels, and a pullback to $0.9073<\/strong> is possible if profit-taking begins.<\/p>\n\n\n\n

Nevertheless, the current market conditions position SPX for additional<\/strong> gains<\/strong>, with $1.3<\/strong> as the next potential target. The alignment of spot demand, exchange outflows, and long-term futures contracts signals sustained<\/strong> price strength<\/strong>, rather than just a trend.<\/p>\n\n\n\n

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Buy memecoins on Bitget !<\/a><\/div>\n<\/div>\n\n\n\n

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