$PEPE’s value jumped 8.55% on December 31st, thanks to Elon Musk’s playful profile change on X.
Musk’s “Kekius Maximus” update got people excited about Pepe, pushing its price up.
Kekius Maximus coin dropped 80% right after launch, raising concerns of a possible scam.
Pepe Investors Celebrate 8.55% Surge
Pepe investors were something to be happy about when the value of $PEPE rose by 8.55% on December 31st. By making it one of the best-performing digital currencies of the day. This unexpected jump helped $PEPE outpace most popular memecoins except ai16z. Which recently caught the crypto world’s attention.
This was driven by none other than Elon Musk, the most popular meme figure. On the same day that $PEPE surged to its high. Musk created a stir on X when he changed his profile picture to that of a frog in ancient Roman garb, holding a video game controller.
He also changed his username to “Kekius Maximus,” a meme culture reference to the popular “KeK” meme often associated with Pepe the Frog. The playful gesture caught the attention of his followers quickly, building up excitement about the Pepe coin and sending a ripple through the crypto community.
Musk’s Latest move influences $PEPE
Musk’s influence on the memecoin world has been well known, and the latest move added a much-needed spark to $PEPE. Breaking out of its stagnant trading pattern and reaching the highest point for the week. At the time of the surge, $PEPE was valued at $0.00002100
The investors now believe that the coin will continue going up and probably revisit its all-time high at $0.00002768. Pepe still stands as the third largest memecoin in terms of market cap, standing at $8.4 billion.
While $PEPE celebrated its rise, Musk’s move also created a new token called Kekius Maximus. The new cryptocurrency, inspired by Musk’s profile update, was launched with great fanfare. However, its journey was short-lived, as the token experienced an over 80% loss in value. Within just an hour of being launched.
Concern is spreading within Pepe’s camp due to rapid declines, having even been as drastic as making it a possible “rug pull”. The sharp falls have led more than a few investors to consider if the tumble was opportunistic.
Kekius Maximus may be uncertain, but it is certain that Elon Musk still makes a big impact on the cryptocurrency market. He has proven his ability to affect the value of digital assets, especially memecoins like Dogecoin and now Pepe. The power he wields in the crypto space will be evident in his playful involvement in the meme world. The crypto community remains curious about what he will do next and how his actions will continue to shape the market.
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