Yes, an account name change by Elon Musk triggered an explosive rally in memecoin Kekius Maximus (KEKIUS), and one crypto trader took advantage of the opportunity to turn $55,000 into $1 million!

Musk's small move made him a millionaire

The anonymous trader used the wallet address 0x33a57f4e88c9ceb0788eb41a407e51533d70cc4d to purchase 8.448 million KEKIUS using 16 ETH (about $54,800) around December 19. About 18 hours after the trader completed these purchases, Elon Musk actually changed his personal X account name to Kekius Maximus, bringing a sudden surge to this obscure memecoin!

KEKIUS surged 980%, and investors made $950,000 in profits!

As Musk’s account name was changed, the price of KEKIUS instantly rose by 980%, bringing $950,000 in unrealized profits to those early traders. This doubling of the market price allowed many investors to pick up unexpected “gold”.

The craze of memecoin: opportunity or bubble?

For memecoins like KEKIUS, the market's rise is mostly driven by social media hype and topic popularity, with no real demand support. This is also the so-called "greater fool theory": investors buy these tokens in the hope of finding the "next fool" to take over at a higher price. Once no one is willing to take over, the price will plummet and investors will face serious losses.

In fact, many newly issued memecoins are at risk of being “rug pulled,” designed to extract liquidity from retail investors by artificially manipulating prices. To these traders, price spikes are often little more than temporary bubbles that may eventually burst.

How do smart traders take advantage of information asymmetry to profit?

Interestingly, some “smart traders” took advantage of the market bubble by creating and promoting these memecoins. They made huge profits by manipulating information and market hype, relying on influential figures (such as Musk) to guide market sentiment.

Binance CZ’s warning: Beware of bubbles!

Binance CEO CZ has publicly criticized this phenomenon. He said: "I am not against memecoin, but they are a bit weird now." This is also a warning to the high-risk bubble in the market: investors need to stay sober and avoid becoming the next buyer.

Brother Tang’s summary: What can we see from this wave of hype?

The KEKIUS craze triggered by Elon Musk has brought huge returns to some traders, but it has also exposed the highly speculative nature of the memecoin market. For investors, the short-term huge profits brought by hype are enviable, but at the same time, they should also be wary of the risks brought by the bubble bursting. Smart investors will deeply understand the nature of the market and avoid being confused by rapid gains.

Don’t be blinded by short-term fluctuations. Brother Tang will teach you how to lock in your goals, take each step carefully, and witness the explosion of wealth with a smile! Follow Brother Tang and he will lead you from confusion to freedom!
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