Elon Musk's recent name change on social media platform X to 'Kekius Maximus' triggered a significant surge in the value of a new memecoin called KEKIUS. Inspired by the 'Pepe the Frog' meme and the character Maximus from the movie 'Gladiator', this token attracted substantial attention following Musk's profile update.
KEKIUS Value Surge and Decline
On January 1, KEKIUS's market cap peaked at $380 million but soon dropped to $100 million following Musk's profile change. However, the token still maintains a market cap of around $308 million, with over 23,600 investors.
Successful KEKIUS Trading Story
On December 14, a trader purchased 10.17 million KEKIUS tokens for just $66. By January 1, the token value soared. The trader sold 2.81 million tokens for 60.3 Ether (ETH), resulting in a remarkable 45,900-fold profit. This transaction turned an initial small investment into $3 million within 18 days.
Social Media and Elon Musk's Influence on Crypto Market
Created on December 13, the KEKIUS token rapidly gained attention in the crypto community. Elon Musk's involvement, especially his posts featuring AI-generated images of Pepe the Frog in Roman military gear, sparked significant hype around the token. One of his posts reached 48.2 million views, further driving the demand for KEKIUS. Analysts caution about the high risk in the memecoin market, advising investors to carefully evaluate the risks of such speculative assets, as many similar tokens have in the past experienced massive price swings of over 60% from their peak.
The KEKIUS scenario underscores the power of social media and celebrity influence on the cryptocurrency market. Elon Musk has previously impacted the prices of cryptocurrencies like Dogecoin. These recent events demonstrate the significant role one individual can play in the fate of meme-based assets.
