SPX6900 token plunges over 10% amid heavy selling by major holders and public figures.

SPX6900, a token designed to mimic the S&P 500, has seen its market cap fall from $2 billion to $300 million, an 86% drop. In the last 24 hours, it lost about 10% of its value as both large holders, including whales and public figures, and retail investors sold off their tokens. Key support levels were broken, pushing the price into a three-month consolidation range. While the top 100 addresses increased holdings slightly, it wasn't enough to offset widespread selling, indicating continued downward pressure unless the token reclaims lost levels.