Tesla Motors CEO Elon Musk had changed his profile name on X to “Kekius Maximus”. Now, he has changed his name back to the old version. Following this development, the meme coin KEIKUS, which has jumped more than 1,000 percent over the past two days, has come. The Kekius Maximus coin has lost nearly 50% in the last 24 hours after Musk changed its name in X. The meme coin was trading at $0.09217 at the time of writing. However, KEKIUS is still up over 6,000 percent on the 7-day chart. And the market value was 92 million dollars. Here are the details…
Elon Musk changed his name: Meme coin dropped
Shortly after Elon Musk adopted the new name, the KEKIUS whale sold 0x820…31cc, contributing heavily to the token’s loss. However, the whale made a profit of $2.3 million on the token. Elon Musk X took the name “Kekius Maximus” on Tuesday and changed his profile picture to Pepe the Frog in Roman clothes, holding a game console. Various interpretations of Elon Musk’s username change have emerged, especially since the name “Kekius” and the character Pepe are associated with far-right groups.
Some have suggested that he may have intended it as a joke, while others have hinted at possible hidden meanings of the change. However, Musk has yet to make a direct statement about the profile changes. The term ‘Kekius’ appears to be derived from the Latin word “Kek”, meaning laughter. Moreover, ‘Kek’ is said to be an ancient Egyptian god of darkness with the head of a frog. ‘Maximus’ is related to the character Maximus Decimus Meridius, played by Russell Crow in the movie Gladiator.
Musk’s X name update caused a surge in the KEKIUS token
Shortly after Musk updated his profile name, the value of memecoin Kekius Maximus rose. As of Tuesday evening, the value of memecoin had increased by more than 900 percent. At the time, however, it was not immediately clear whether Musk’s move caused the price increase. However, the KEKIUS whale started selling ‘0x820168e15ec0c16cd757257399519429eb2b31cc’ assets. This triggered a 60% drop in token prices in just one hour. The whale made a profit of $2.3 million with a 40% win rate.
The KEKIUS token is currently priced at $0.001399, down 83% in the last 24 hours. The token’s 24-hour trading volume also dropped by 70% to just $1.48 million. Some attribute this drop to Elon Musk’s profile change. The move has also affected other frog-themed memecoins. As you can see below, most of them have started to give back their gains from December 31st.
The Tesla CEO has changed his name on Twitter multiple times. In January 2023, he changed his name to Mr. Tweet. Another time he changed his X to ‘Naughtius Maximus’. And this is not the first time the billionaire entrepreneur behind Tesla and SpaceX has influenced the crypto market. Musk is an open supporter of the dog-themed Dogecoin and has increased its price several times through his tweets.
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