Meme cryptocurrency KOL Murad has suffered a nearly $60 million unrealized loss on his holdings but has not cut his losses, stating that he remains optimistic about a rebound.

According to a report by Cointelegraph on April 2nd, prominent Memecoin KOL Murad has accumulated nearly $60 million in unrealized losses in Memecoin trading over the past nine months. However, he remains optimistic about a rebound and has not exited the market. He currently holds approximately 29.964 million SPX6900 (SPX), worth about $7.79 million, representing 96% of his total tracked portfolio of approximately $8.1 million. Last July, this portfolio peaked at approximately $67 million; since then, with the Memecoin sector falling over 80% from its peak, the unrealized losses have accumulated to approximately $60 million. Data shows that there have been no substantial sales of his SPX6900 holdings and other major positions, and his realized profit/loss remains zero. On Wednesday, Murad stated on X that the market capitalization of SPX6900 will grow from its current value of approximately $250 million to $1 trillion, an increase of nearly 400,000%. He pointed out that Bitcoin is currently the only cryptocurrency to have surpassed a $1 trillion market capitalization. Technically, the SPX6900 is breaking down from an ascending wedge pattern on the three-day chart, having fallen below the lower support level of the wedge at approximately $0.26 and is below the 20, 50, and 100-period exponential moving averages, indicating weak momentum. If the downtrend is confirmed, the target price based on the pattern is around $0.205, about 20% lower than the current price, which would result in a further loss of approximately $1.56 million for Murad's Meme portfolio.