Elon Musk Shakes Up the Crypto World: The KEKIUS Saga
Tesla CEO Elon Musk has once again made waves in the crypto space. After briefly changing his name on X (formerly Twitter) to “Kekius Maximus,” the value of the meme coin KEKIUS soared before crashing dramatically. The coin, which had skyrocketed over 1,000% in just two days, plummeted by 50% in the past 24 hours, settling at $0.09217. Despite this correction, KEKIUS still boasts a 7-day growth of 6,000% and a market capitalization of $92 million.
The Name Change That Shook the Market
Musk’s influence was swift. Shortly after adopting the moniker “Kekius Maximus,” a major KEKIUS holder (from address 0x820…31cc) sold off their holdings, netting a $2.3 million profit. This move triggered a massive sell-off, sending the coin’s value into freefall.
Adding to the buzz, Musk updated his profile picture to an image of Pepe the Frog dressed as a Roman holding a gaming console. The name "Kekius" sparked speculation, tied to its Latin roots meaning "laughter" and its association with meme culture. Musk, however, has remained silent on the matter.
The Rise and Fall of KEKIUS
After Musk’s update, KEKIUS surged 900% in value, only to see a 60% drop within an hour due to the whale's sell-off. While the investor secured a 40% return, the rest of the market suffered significant losses.
Currently, KEKIUS is trading at $0.001399, reflecting an 83% drop in the last 24 hours. Daily trading volume has also decreased by 70%, now standing at $1.48 million. Other frog-themed meme coins followed a similar downward trend, erasing recent gains.
Musk: A Crypto Influencer with a Track Record
This isn’t the first time Musk’s actions have rattled the crypto market. The billionaire has previously used X to drive trends, with aliases like “Bay Tweet” and “Naughtius Maximus.” His endorsement of Dogecoin cemented his reputation as a major figure in the crypto world, capable of driving prices up or down with a simple profile update.
What’s Next for Meme Coins?
The beginning of 2025 underscores the extreme volatility of meme coins like KEKIUS, which remain highly susceptible to external influences. While Musk’s playful antics can spark explosive rallies, they also highlight the risks inherent in speculative trading.
Investor Warning: Stay cautious, monitor trends closely, and remember that Musk’s humor can be as unpredictable as the price movements of meme coins.
