Elon Musk Is Upset This Time: Meme Coin Price Crashed!

Shortly after Elon Musk adopted the new name, the whale KEKIUS sold it from the address 0x820…31cc, contributing significantly to the loss of the token. However, the whale made a profit of $2.3 million from the token. Elon Musk X changed his name to “Kekius Maximus” on Tuesday and changed his profile picture to a Pepe the Frog character in Roman garb, holding a game console. Various interpretations have emerged regarding Elon Musk’s username change, especially because the name “Kekius” and the Pepe character are associated with far-right groups.

Some have suggested that he may have intended it as a joke, while others have hinted at possible hidden meanings behind the change. However, Musk has yet to directly comment on the profile changes. The term ‘Kekius’ appears to be derived from the Latin word “Kek,” meaning laughter. Furthermore, ‘Kek’ is said to be an ancient Egyptian dark god with a frog head. ‘Maximus’ is related to the character Maximus Decimus Meridius, played by Russell Crow in the movie Gladiator.

Shortly after Musk updated his profile name, the value of the memecoin Kekius Maximus soared. As of Tuesday evening, the memecoin’s value had increased by more than 900 percent. However, it was not immediately clear at the time whether Musk’s move had caused the price increase. However, the KEKIUS whale began selling its holdings of ‘0x820168e15ec0c16cd757257399519429eb2b31cc’, triggering a 60 percent drop in the token’s price in just one hour. The whale made a profit of $2.3 million, with a 40 percent win rate

The KEKIUS token is currently priced at $0.001399 and has lost 83% of its value in the last 24 hours. The token’s 24-hour trading volume has also dropped by 70% to just $1.48 million. Some are attributing this decline to Elon Musk’s profile change. This move has also affected other frog-themed memecoins, as you can see below, many of which have started to give back their December 31 gains.