Musk, known as the 'Dogecoin Father,' seems to have recently taken a liking to Pepe the Frog. On December 31 afternoon, he unusually changed his Twitter name from Elon Musk to 'Kekius Maximus' and replaced his profile picture with Pepe, causing the meme coins related to Pepe and 'Kekius Maximus' to surge.
However, as Musk changed the Twitter name back to Elon Musk today (2nd) and replaced the profile picture with his personal photo, related tokens have seen some decline.
Kekius Maximus (KEKIUS)
The $KEKIUS on the Ethereum chain (address: 0x26e550ac11b26f78a04489d5f20f24e3559f7dd9) surged over 3500% in the first two days, reaching as high as $0.4, with a market capitalization surpassing $398 million.
However, after Musk changed the Twitter account name back to X, the market cap has evaporated by over $300 million, currently reported at $0.09679, with a drop of over 45% in the past 24 hours.
Source: Dexscreener
Kekius Maximus (KM)
The $KM token on the Solana chain (address: HuAncxDEsakCDgZS2Yfo9xJbHmtHXMnxxkT9jqdXnHhm) skyrocketed over 100 times on December 31, reaching a historical high of $0.05174, with a market cap peaking over $51.73 million.
However, it has plummeted nearly 80% in the past 24 hours, currently reported at $0.003424, with a market cap remaining at about $3.83 million.
Source: Dexscreener
$PEPE
$PEPE surged nearly 20% in two days, reaching $0.00002126 on New Year's Day, currently reported at $0.0000196, with a 4% drop in the past 24 hours, which is relatively small.
Source: CoinGecko
Musk's recent actions on Twitter have ignited a frenzy in the meme coin community, with related meme coins experiencing significant gains. However, the exchange reminds investors that meme coins are highly volatile, and one new tweet or name change from Musk could lead to a drop again. There have also been many speculations about Musk's meme coins recently, so it is essential to be cautious of the risks associated with these meme coins, protect your principal, DYOR, and avoid falling victim to Rug pulls.
