Elon Musk's Profile Change Sparks KEKIUS Crash

Elon Musk's brief name change to "Kekius Maximus" on X triggered a significant downturn in the value of the meme coin KEKIUS. After a 1,000% rise in two days, KEKIUS plummeted by 50% in 24 hours, settling at $0.09217.

Key Events

1. *Musk's Name Change*: Musk adopted the name "Kekius Maximus" and updated his profile picture, sparking speculation and a surge in KEKIUS value.

2. *Major Whale Sells*: A significant KEKIUS whale sold off their holdings, contributing to the coin's decline and profiting $2.3 million.

3. *Rapid Rise and Fall*: KEKIUS surged by over 900% after Musk's profile update, but a sell-off caused a 60% drop in one hour.

Current Status

1. *KEKIUS Trading*: KEKIUS is currently trading at $0.001399, having lost 83% of its value in 24 hours.

2. *Daily Trading Volume*: The daily trading volume fell by 70% to $1.48 million.

3. *Other Meme Coins*: Frog-themed meme coins have followed a similar downward trajectory, erasing recent gains.

Musk's History of Crypto Influence

1. *Previous Profile Name Changes*: Musk has a history of altering his profile name on X, previously using aliases like "Bay Tweet" and "Naughtius Maximus."

2. *Dogecoin Support*: Musk's support for Dogecoin has driven significant price increases in the past, solidifying his status as a major crypto influencer.

What's Next for Meme Coins?

1. *Volatility*: The volatility of meme coins like KEKIUS highlights their susceptibility to external factors.

2. *Investor Caution*: Investors should remain cautious and closely monitor market trends.

3. *Stay Updated*: Follow The Bit Journal for the latest crypto news and analysis.