Tesla CEO Elon Musk changed his profile photo and name on his X account. This change caused a huge movement in the market. Here are the developments...
Elon Musk Changed His Profile Picture to a PEPE Meme
Elon Musk, who is closely followed in the cryptocurrency world, made a change in his X profile and changed his profile photo to the "Frog PEPE" meme. This move caused a sudden jump in the price of the popular meme coin called PEPE. At the time of writing, the price of the meme coin increased by 3% to $ 0.0000188. However, the big rise when the change in Elon Musk's profile photo was noticed was more obvious. PEPE rose from the lows of its price with a large volume entry of $ 1 billion.
In addition, Elon Musk X changed the name of his account from "Elon Musk" to "Kekius Maximus". This change is considered to be a reflection of Musk's interest in games and internet memes. Frog PEPE in his new profile photo appears to be playing a video game by holding a joystick. "Kekius Maximus" or KEKIUS attracts attention as a new player in the cryptocurrency market. KEKIUS increased by 497.56% last week, reaching $0.005667. This coin is still quite new and is only traded on decentralized exchanges.
Musk Takes Charge of D.O.G.E
Elon Musk has been appointed as the head of the newly established Department of Government Efficiency (D.O.G.E) with Donald Trump’s transition to the US administration. The Tesla CEO is heading the department alongside Trump’s ‘crypto chairman’ Vivek Ramaswamy. The D.O.G.E’s goal is to save $2 trillion in federal spending, which is equivalent to the US government’s budget deficit by 2024. This vision, which envisions a 75% reduction in the government workforce, could lead to the layoff of most federal employees.
Musk’s Tensions with Germany
Elon Musk is also on the agenda with Germany. The German government accused Musk of trying to influence the elections to be held in February. This accusation came after Musk wrote a column in which he announced his support for the Alternative for Germany (AfD) party. In this article, Musk used the expressions “Only the AfD can save Germany.” This statement was rejected by German Chancellor Olaf Scholz. Musk’s column also caused an opinion editor at the Welt am Sonntag newspaper to resign in protest.