Elon Musk’s Name Change Triggers Meme Coin Surge, Trader Reaps $3M from $66 Investment

On Jan. 1, the Ethereum-based meme coin Kekius Maximus (KEKIUS) skilled a market surge, reaching a peak market capitalization of $380 million.

On Jan. 1, the Ethereum-based meme coin Kekius Maximus (KEKIUS) skilled a market surge, reaching a peak market capitalization of $380 million.

This sudden spike adopted Elon Musk’s temporary identify change on the social media platform X, the place he adopted the moniker “Kekius Maximus,” a nod to the Pepe the Frog meme and the character Maximus from the movie Gladiator.

A dealer capitalizing on this volatility turned an preliminary funding of $66 in Ether into earnings nearing $3 million over 18 days.

On Dec. 14, the dealer bought 10.17 million KEKIUS tokens and later bought 2.81 million for 60.3 Ether on Jan. 1, attaining a paper achieve of roughly 45,900x their unique funding, in line with blockchain analytics agency Lookonchain.

The KEKIUS token was created on Dec. 13, with its market cap climbing from $11.4 million on Dec. 31 to $380 million at its peak.

Following Musk’s identify change again to his unique profile, the market cap has since declined to round $100.5 million, however over 23,600 buyers proceed to carry the ERC-20 tokens.

Musk’s involvement with the meme coin was amplified by his posts that includes AI-generated photographs of a Pepe-inspired character in a battle setting inside Rome’s Colosseum, attracting substantial engagement, together with 48.2 million views on one put up.

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