Author: Arain, ChainCatcher
Editor: Nianqing, ChainCatcher
Have you ever met this person?
He has a muscular body, a wide and plump chin, and a toothy grin that shows a mysterious smile.
Yes, that’s the thing. It may not meet your definition of “handsome guy”, but on the current Internet, his hardware conditions are relevant to the definition of “handsome guy”, he is “Gigachad”.
We all know that "Meme Theologian" Murad became famous for SPX. Gigachad's eponymous Memecoin GIGA is also one of the Memecoins that Murad recommends. Recently, Murad said on his social media that #SPX6900and GIGA will become DOGE and SHIB in this cycle."
In the past week, SPX and GIGA have performed well. According to Coingecko data, SPX currently has a market value of about $1.4 billion, ranking among the TOP 10 Memecoins, with over an 80% increase in the past week, leading the TOP 10 Meme rankings, even surpassing the currently popular ai16z. $GIGA's performance is slightly weaker, currently with a market value of about $800 million, ranking 15th among Memecoins with an increase of about 40% in the past week.
1. Murad's preference for cult-like Memes.
As one of the top KOLs in Memecoins, Murad's words and actions are now closely watched by the market, and even a single statement can turn into a piece of news.
Murad graduated from Princeton University and worked at traditional financial institutions such as Goldman Sachs and Glencore before 2016. He later resigned to focus on Bitcoin and founded Adaptive Capital in 2017, but unfortunately, the fund closed down in 2020 due to 'insufficient infrastructure' after the March 12 crash.
But Murad cannot be easily defeated. In 2022, he made a full comeback to social media and dove into the world of Meme coins. He proposed the Memecoin Supercycle theory, believing that Memecoins are 'stealing' attributes and speculative premiums from value coins, and are about to enter a 'Meme Supercycle.' In the future, Memecoins may not just be internet jokes but become legitimate investment assets with a large number of enthusiastic followers. This perspective has led investors to reevaluate Memecoins.
SPX and GIGA are the first Memecoins Murad invested in. In addition, there are PEPE, SIGMA, APU, and POPCAT, among others. SPX and GIGA are a pair of Memecoins that Murad frequently mentions—positioning SPX and GIGA as counterparts to the current largest Memecoin DOGE and the second largest SHIB, indicating Murad's expectations for these two Memecoins.
So why are these two Memecoins so attractive that they caught Murad's eye?
It is well-known that Murad prefers 'cult-like attributes' Memecoins with medium to high market values. He mainly adopts the 'price and faith index' investment strategy, which suggests that investors should look for projects with high faith but low prices, meaning those that are undervalued but meet most screening criteria. These projects usually have only one or two indicators that fall short, which can be improved, and have extremely enthusiastic community support.
SPX and GIGA, one being a financial Memecoin and the other a 'fit man' Memecoin (which can be understood as a cultural meme), seem to be two types of Memes. However, they share common characteristics: 1. Both are community-driven Memecoins; 2. They are supported by centralized exchanges.
2. SPX6900: Confronting finance, satirizing the S&P 500.
Murad's love for SPX led him to voluntarily change his X profile to 'a believer in SPX.'
Let's review Murad's performance with SPX: When Murad first held SPX, its market value was only $10 million. Now it has risen to approximately $1.4 billion, resulting in Murad's unrealized gains exceeding $14 million.
Currently, DOGE's market value is about $57 billion. If SPX were to rise further—wow, that's quite an ambition, just like the story SPX tells. However, Murad believes SPX has the potential to break through $100 billion.
SPX, short for SPX6900, aims to challenge the famous S&P 500 index, trying to confront this traditional financial 'giant.' However, challenging this giant with nothing but 'dreams'—even the official website is fan-operated, stating on the Meme website introduction: 'The SPX6900 token is a Memecoin for entertainment purposes only, with no connection to any stocks, equity, or securities. Any similarities or connections between SPX6900 and the 'stock market' are purely coincidental, intended for satire or humor.'
Elon Musk once stated, 'Mathematically, 6900 cannot be contained by 500 at all.'
This phrase has caused confusion and is also displayed on the SPX6900 website. Perhaps the number 6900 embodies the essence of this Meme. The story of this Meme is part of a financial protest, trying to become the third tale of retail investors confronting institutions after Occupy Wall Street and Gamestop.
Thus, SPX6900 declared its slogan: '6400 points above the S&P 500 index. It is the stock market that 'serves the people.' SPX6900 sows the seeds for tomorrow's forest. SPX6900 nurtures the souls and bodies of millions. SPX6900 serves you, your children, and countless generations to come.'
In this sense, SPX6900 and GIGA are similar, embodying a somewhat mischievous spirit and culture.
In this culture, the use of Memes in ironic contexts includes the following:
6900 traders symbolically 'stormed' the New York Stock Exchange, advocating that SPX6900 surpasses the S&P 500 index.
The U.S. Federal Reserve has been described as considering replacing U.S. dollar bills with SPX6900 tokens, capturing the speculative nature of cryptocurrency discussions at times.
Federal Reserve Chairman Jerome Powell 'supporting' SPX6900 is a fictional depiction of a hypothetical shift in financial policy.
Fans of SPX6900 humorously suggested establishing a 'National Mary Rose Day' to celebrate the popularity of the token.
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, humorously expressed regret for not investing in SPX6900, while former Treasury Secretary Janet Yellen enjoyed the hypothetical returns.
However, it must be said that SPX6900 originally had a development team. In August 2023, SPX was fairly launched, but soon the developers exited the project by abandoning the contract, locking liquidity for an extended period, and deleting social media, causing panic in the community. Ultimately, the project community took over SPX6900 spontaneously, transforming it into a completely decentralized Memecoin project by 2024. All social activities are created and operated by the community, including meme creation, promotion, etc.; all initiatives are driven by the community, such as trading strategy formulation and ecological construction.
The BitMart exchange was the first to list SPX6900, followed by other exchanges like Bybit also extending 'olive branches.' Currently, there are expectations for SPX6900 to go live on Binance.
3. GIGA: Dedicated to fitness and the culture of healthy, fit men.
Chad, the term originally described boys who are strong but not very bright. Gigachad is an upgraded version of Chad, simply put, it retains physical purity while discarding the drawbacks of being simple-minded. Therefore, the goal of Gigachad is perfection; it is a summary term for fit men, without any flaws.
The Gigachad culture originated in 2017 when someone posted related images online and claimed 'Bogdanov's genetic research has made significant progress,' obviously referring to Gigachad having an exaggerated jawline like Bogdanov. He also added that 'the perfect Gigachad' is destined to lead us in the fight against lizard people.
In 2020, the meme 'Average Fan vs. Average Enjoyer' started to gain popularity, with Gigachad representing the 'enjoyer' due to his image advantage, and it spread widely through meme videos. His image originates from the art photography project of Lithuanian photographer Krista Sudmalis, where the model Ernest Khalimov (the 'Gigachad' himself) had his photos heavily edited, showcasing exaggerated muscles and unique aesthetics, attracting a large number of netizens, thus forming a unique online cultural phenomenon.
As Gigachad's popularity continues to rise, artists and models collaborated in 2021 to launch the gigachad.army clothing brand and Gigachad NFTs, achieving monetization of the traffic. Subsequently, the GIGA coin, based on 'Gigachad' culture, emerged, aiming to leverage the power of memes and 'Chad' energy to attract community members' participation.
GIGA is a community-operated project with no centralized ownership, emphasizing ideals of personal growth and self-discipline, resonating with the strong and confident image presented in 'Gigachad' culture. Community members participate in decision-making through governance functions, jointly promoting project development, ensuring that the direction of the project aligns with the values and goals of community members.
The GIGA community has made some achievements in fitness and health. The community launched the Giga Motion and Giga Fitness programs, focusing on fitness and health, providing fitness challenges and merchandise, aimed at supporting community members in participating in physical and mental resilience exercises, enhancing community cohesion and sense of belonging. Community members actively respond to these programs, improving their health levels through participation in fitness challenges and purchasing related merchandise.
GIGA has currently received recognition from individuals such as Ernest Khalimov himself, Mike O'Hearn, and UFC fighter Paulo Costa.
Currently, GIGA can be traded on some centralized exchanges, with the most noteworthy being that it has been listed on well-known exchanges like Coinbase (though it is not yet available on Binance).
Murad believes that in the future, GIGA will become the largest Memecoin on Solana, and he expects its market value to exceed $5 billion by 2025.
However, according to Murad's expectations, SPX can push ahead, which is why he calls himself a believer in SPX. However, for GIGA to replace SHIB is a bit challenging. If we consider expected returns, perhaps the next SHIB—can you appreciate GIGA's aesthetics?
