The Kekius Maximus (KM) token on Solana dropped by up to 80%, causing many investors to incur significant losses due to choosing the wrong platform.
The billionaire Elon Musk's renaming of his X account to Kekius Maximus has caused a series of frog-themed meme coins to increase in price. However, not every token can maintain its price. Many Vietnamese investors benefited from this event, but some others suffered losses due to buying the wrong token.
Here are the observations and records of BeInCrypto regarding the impact of this event in the crypto community in Vietnam.
Big winners and those losing accounts with Kekius Maximus
The token that brought the biggest profits to investors from this event is Kekius Maximus (KEKIUS) on Ethereum. Data from Coingecko shows that today, the price of KEKIUS continues to reach new highs and its market capitalization has surpassed 300 million USD. The price of KEKIUS has increased nearly 200 times thanks to Elon Musk's effect.
The keyword 'Kekius Maximus' has reached trending status on X in Vietnam. Observing the community, many Vietnamese investors have been fortunate to win big, with one investor buying KEKIUS when its market capitalization was only 2 million USD. This price increase completely depends on billionaire Musk's behavior, which is why many investors are also concerned that it will soon pass.
"KEKIUS continuously sets new ATHs. I hope Elon doesn't change it back to the old name too soon, otherwise, tomorrow if he changes it back, we will all be out of the game together." – Investor Bin Crypto commented.
Not only KEKIUS on Ethereum, but many frog-themed meme coins have also recorded a strong increase. CoinGecko data shows that the market capitalization of frog-themed meme coins has surpassed 11.6 billion USD, up 6% in a day, and the daily trading volume reached nearly 4.9 billion USD.
"Kekius Maximus is just the beginning of 'Pepe season' 🐸." – Investor Thế Khương commented.
Investor Doris stated that he accidentally bought KM on the Solana platform, so his account has been divided by 10 times until now. Another investor made a similar mistake and has also been divided by 4 times. The community quickly realized that the meme coin closest to billionaire Elon is KEKIUS on Ethereum and pointed out the reason why.
"Many people do not understand how important meme narrative is, so they keep advising those who missed the Kekius boat to buy some Kekius on the SOL platform. Once the FOMO is over, who will shill next? Kek not only means LOL but also means God of Pepe (the Frog). Kekius belongs to Pepe Derivatives, so its narrative belongs to Ethereum. Additionally, the Kekius on Ethereum is currently the only one receiving interactions (likes) from Elon Musk." – Investor Chủ Trại Gà explained.
The term 'Kekius Maximus' can be understood as a combination of the word 'Kek' – a term originating from internet culture, often related to the Pepe (PEPE) meme, and 'Maximus' – reminiscent of the character Maximus Decimus Meridius in the movie 'Gladiator.' This indicates a blend of meme culture and Musk's personal influence in social media and cryptocurrency.