Tesla and X CEO Elon Musk is no stranger to controversy with his social media antics, which occasionally have ripple effects on the crypto market.
In the latest instance, the billionaire has sent the price of meme coins inspired by a Grok-created meme soaring with an X stunt. Here’s what’s happening.
Elon Musk Changes Profile
Over the past 24 hours, Tesla CEO Elon Musk has whipped up a frenzy with changes to his X profile. Specifically, he changed his profile name to Kekius Maximus and his display picture to a picture of the Grok-created meme.
For the uninitiated, Kekius Maximus is a Grok-generated meme that combines the famous pepe meme with Gladiator’s Maximus character.
The meme had inspired several meme coins across the Ethereum and Solana blockchains, the oldest of which appeared to have launched 17 days ago. All of them have now soared to record highs following Elon Musk’s X stunt.
At the time of writing, the Solana version has risen by 16,000% over the past 24 hours, while the Ethereum version has risen by over 700%, per DEX Screener data. Each boasts market capitalizations of $1.6 million and $123 million, respectively.
