Meme Coin Influencer Murad Mahmudov Faces a Significant Dip in His Crypto Portfolio

Murad Mahmudov, a controversial meme coin influencer and trader, is facing a significant dip in his crypto portfolio. Over the past two weeks, his total assets have sharply declined to $10.07 million, marking a fall of 39.5%. This substantial loss highlights the inherent volatility of the cryptocurrency market, even for pro traders.

Crypto influencer Murad Mahmudov, known for his controversial takes on meme coins and trading strategies, has seen a significant decline in his crypto portfolio over the past two weeks.

According to onchain data, Mahmudov’s portfolio has fallen to $10.07 million, marking a 39.5% decrease from its peak of $16.53 million on July 11. This substantial loss highlights the inherent volatility of the cryptocurrency market, even for pro traders.

A major chunk of Mahmudov’s portfolio comprises SPX tokens, a meme coin inspired by the S&P 500. The price of SPX has fallen to $0.29, a 35.93% decrease from its recent highs. Despite the loss, the crypto influencer still holds 29.96 million SPX tokens, now worth nearly $8.73 million.

This massive loss in his primary asset has had a spillover effect on his portfolio value. The overall portfolio decline becomes even more apparent when considering the changes in other tokens.

One crypto user highlighted the significant discrepancy between SPX’s current market cap and Mahmudov’s past predictions. The user noted that SPX, after achieving a $1.5 billion market cap within its first year, is now valued at $350 million. Based on Mahmudov’s theories, SPX should be aiming for a $100 billion increase at this point.

This critique is further supported by the bearish technical analysis of the SPX/USD chart, which shows a clear downward trend and decreasing momentum, as indicated by the RSI. This chart data reinforces the reality of SPX’s recent price drop, showing that the meme coin is far from its predicted outcome.

Other notable holdings in Mahmudov’s portfolio have also recorded declines. GIGA and RETARDIO are down 8.99% and 5.63% respectively, while Bitcoin holdings have too decreased by 25.85%. Even POPCAT and MOG tokens, though experiencing smaller percentage losses, have contributed to the overall portfolio downturn.

The collective decline across his various holdings aligns with the broad market correction impacting even well-known figures. For instance, Balancer founder, Guillaume Toussaint, faced a $70 million loss in his DeFi portfolio due to the market downturn.

This sharp decline in Mahmudov’s portfolio serves as a stark reminder of the risks associated with cryptocurrency trading, particularly in the volatile meme coin market.

While his past successes and bold predictions have garnered attention, his recent losses highlight the importance of risk management and realistic expectations in the ever-shifting world of cryptocurrencies.