SPX6900, as one of the leading meme coins, dropped over 10% within 24 hours, underperforming the overall meme coin sector which declined by 6.8%. Despite the price decline, technical indicators such as MACD show that selling momentum is weakening, with open interest increasing from $8 million to $11.47 million, suggesting a potential bullish divergence. On-chain data indicates that buying pressure remains persistent but is trending downward. However, the overall market capitalization of meme coins has plummeted from over $150 billion to approximately $43 billion, with overall attention decreasing by 81.6% since the beginning of the year, which may hinder any recovery of individual tokens.