In a remarkable demonstration of social media influence on cryptocurrency markets, Elon Musk’s simple profile name change to “Kekius Maximus” on his X (formerly Twitter) account has triggered an extraordinary market reaction.
The impact was immediate and dramatic, causing the $KM token to surge by an unprecedented 27,550%.
The explosive price movement occurred within hours of Musk’s profile update, despite no confirmed direct connection between Musk and the token.
The incident adds to Musk’s track record of inadvertently or purposefully influencing cryptocurrency markets through his social media activities, with this particular case standing out due to the extreme magnitude of the price movement.
Strategic Whale Investment and Remarkable Returns
The market event became even more noteworthy due to the prescient timing of a significant whale investment.
Just hours before Musk’s profile change, a crypto whale executed a strategic purchase of 18.14 million $KM tokens, exchanging 20,000 $GRIFFAIN tokens (valued at $4,756) for the position.
Currently, these tokens are valued at approximately $4.28M, an increase of 900x, and the value keeps rising.