Key Highlights
- Murad Mahmudov’s memecoin portfolio has fallen roughly 83.5% from its peak, according to Arkham Intelligence data.
- His largest holding remains SPX6900, valued at nearly $11 million and accounting for most of his portfolio exposure.
- Mahmudov has reportedly not sold major positions despite prolonged market declines and volatility in memecoins.
Former Goldman Sachs analyst Murad Mahmudov is continuing to hold his memecoin portfolio despite an 83% decline from its peak, with his holdings now valued at approximately $11.33 million, according to on-chain data from Arkham Intelligence.
Mahmudov, widely known for his bullish 2024 “memecoin supercycle” thesis, continues to maintain significant exposure to several high-risk tokens.
According to his portfolio, his largest position remains SPX6900 (SPX), currently valued at roughly $10.97 million, representing the bulk of his portfolio. Additional holdings include GIGA, POPCAT, MOG, RETARDIO, a small Bitcoin position, and BULL.
Murad holds memecoin positions despite losses
Arkham’s portfolio tracker shows his total portfolio value has fallen from a peak of around $67 million in July last year to just $11.33 million, representing an 83.5% drawdown. Despite the losses, Mahmudov has reportedly not sold any of his major memecoin positions accumulated nearly two years ago.
His portfolio includes 29.964 million SPX tokens worth $10.97 million, 70 million GIGA, over 634,000 POPCAT, nearly 198 million MOG, and 10 million RETARDIO, alongside 2.141 BTC. Most assets are showing negative performance in the recent period, reflecting the extreme volatility inherent in the memecoin sector.
Community remains divided on Murad’s decision
Supporters have described Mahmudov’s stance as “legendary conviction” and “diamond hands,” viewing his refusal to sell as a powerful example of belief in the long-term potential of meme culture and decentralized assets.
Critics, however, have been less kind. Some have dubbed his persistence “Shitcoinholm Syndrome,” suggesting he is trapped in an illiquid position and emotionally unable to exit. Skeptics argue that clinging to deeply underwater memecoins, many of which have lost the vast majority of their value, represents more stubbornness than strategy.
Mahmudov has long advocated a philosophy: “Stop Trading & Believe in Something.” This mantra has become a rallying cry for his followers, who interpret his actions as proof of genuine belief rather than short-term speculation.
How the former analyst gained his all-time high
Murad Mahmudov’s memecoin portfolio reached an estimated peak value of approximately $67 million in July 2025. The former Goldman Sachs analyst achieved this run by fully embracing the 2024 memecoin supercycle he had publicly predicted.
After shifting from Bitcoin maximalism, he accumulated early positions in tokens such as SPX6900, GIGA, POPCAT, MOG, and RETARDIO, many launched in 2023–2024. His strategy combined deep meme culture research, strong community conviction, and diamond hands.
During the 2024 bull market, several of these tokens recorded substantial gains, significantly increasing the value of his portfolio.
Traders advised to consider risk associated with memecoin trading
Memecoin trading is one of the riskiest forms of investing in crypto. Prices can surge 10x–100x in weeks but also crash 80–95% just as fast. Most tokens eventually go to zero due to hype cycles, rug pulls, whale dumps, and extreme illiquidity. Emotional trading often leads to massive losses, as seen in cases like Murad Mahmudov’s 83% drawdown.
To navigate safely, only risk money you can afford to lose completely and never go all-in on single tokens. Also, use strict position sizing (1-5% per trade), take profits gradually, and diversify. Set clear rules, avoid FOMO, and treat it as high-risk speculation rather than investment. Research deeply, but always prepare for the worst.
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