A cryptocurrency dealer, probably an insider, has managed to show round $1,983 price of the second-largest cryptocurrency by market capitalization ether into round $2.8 million in little over two weeks after Tesla and Area X CEO Elon Musk modified his identify on the favored microblogging platform, X.
In accordance with knowledge shared by on-chain evaluation agency Spot On Chain, the dealer noticed a 1,700x return in simply 18 days after spending 0.5 ETH tokens to purchase 35.58 million $KEKIUS, a meme-inspired cryptocurrency.
The dealer, per Spot on Chain, purchased the tokens on Dec. 14 and offered 10.13 million of them for 4.91 ETH on Dec. 16, earlier than promoting an extra 25.26 million for 843 ETH price greater than $2.8 million from the start of 2025 throughout an enormous value surge.
That value surge got here after Musk modified his identify on X to “Kakis Maximus,” and the dealer’s sale got here earlier than Musk reversed the change, which led to a 75% value crash for the token.
https://twitter.com/spotonchain/standing/1874642866338955287
Though the exact cause behind Elon Musk’s transient profile alteration on the social media platform stays unsure, there’s a discernible connection to meme tradition. The moniker “Kekius” is derived from web slang, “kek,” which originated inside World of Warcraft communities and interprets to “laughing out loud.”
The “Maximus” a part of the identify was seen as a reference to Maximus Decimus Meridius, the chief character of the Gladiator film, performed by Russell Crowe. The profile picture he used through the identify change included the Pepe the Frog character .
Notably, Musk had seemingly teased the identify change after mentioning that “Kekius Maximus will quickly attain stage 80 in hardcore PoE,” referring to fashionable online game Path of Exile.
Featured picture by way of Pexels.