A trader swapped 62 billion PEPE tokens for KEKIUS during a pump, facing a dramatic shift in fortune.
Elon Muskās profile change triggered a sharp drop in the KEKIUS market cap, highlighting meme coin volatility.
A traderās bold choice to exchange 62 billion PEPE tokens, valued at $1.2 million, for 4.23 million Kekius Maximus (KEKIUS) tokens has proven to be a significant lesson. The deal happened during a rise in KEKIUSās worth, but fortunes changed dramatically afterwards.
A tweet from money guru Wise Advice notes that Elon Muskās choice to remove Kekius Maximusās profile image from X set off an 80% market capdrop. The value of the token dropped from $400 million to only $80 million, therefore leaving the trader with just $400,000 in holdings.
Data from Dexscreener shows at the time of writing that KEKIUS still shows notable selling pressure, and its market cap has somewhat recovered to about $98 million.
Elon Musk and the Mystery Behind Kekius MaximusĀ
On December 31, 2024, Elon Musk modified his profile name and photo to suit the meme-inspired identity, effectively adopting the Kekius Maximus persona. Pepe the Frogās profile showed him suited as a gladiator, a nod many thought connected to the character Maximus Decimus Meridius from the film āGladiator.ā
Although Musk provided no official explanation, internet rumors connected the name āKekiusā to both ākek,ā a slang for laughter in gaming circles, and Kek, an ancient Egyptian deity sometimes shown as a frog.
Adding to the mystery, some internet watchers have speculated that Musk might run an alter ego account on X under the name āAdrian Dittmann.ā This narrative usually compliments Musk and discusses Kekius Maximus. Musk has refuted these claims, writing off them as unfounded nonetheless.
Fascinatingly, Muskās affinity for the game industry has driven the story even more. In one post alluding to the well-known game āPath of Exile 2,ā he said, āKekius Maximus will soon reach level 80 in hardcore PoE.ā This remark suggested his personal hobbies and gave the conjecture on the Kekius Maximus phenomenon some lighthearted twist.
Muskās profile modification has effects outside KEKIUS as well. Other meme coins influenced by Pepe the Frog saw notable price swings as the crypto community responded fervently. This response emphasizes the great impact Musk has over the crypto market, especially in the meme coin category.
