American billionaire and Tesla CEO Elon Musk has reverted to his authentic identify on the social media platform X after briefly altering it to “Kekius Maximus” on December 31.
This identify change to Kekius Maximus sparked a right away surge within the worth of equally themed meme cash. Nonetheless, it appears these meme cash are actually retracing as Musk switches his X-handle identify as soon as once more.
Musk’s Title Change Sends Meme Cash Hovering—And Then Falling!
The Kekius Maximus coin was down practically 50% over the previous 24 hours after Musk modified his identify on X. The meme coin was buying and selling at $0.09217 at press time. However, KEKIUS was nonetheless up over 6,000% on the 7-day chart, and its market cap was $92 million.
Few merchants who invested in Kekius Maximus after it gained in a single day reputation are actually reeling in losses.
“rektdolphin.eth exchanged all 62 billion PEPE( ~ $1.2 million) for 4.23 million KEKIUS 12 hours in the past (Now value $290,000). That’s why you shouldn’t FOMO into hype. $1 million gone in 12 hours,” an analyst mentioned on Twitter.
One other analyst added that the ‘reign’ of Kekius Maximus has come to an finish.
“JUST IN: The reign of Kekius Maximus has come to an finish. For now. Elon Musk has returned to X.”
The transfer impacted different frog-themed memecoins as most of them have began retracing the positive aspects from December 31.
Earlier on December 31, Kekius Maximus and different frog-themed meme cash exploded after Musk modified his identify on X. In response to CoinGecko, the market cap of frog-themed cash even rose to $11.8 billion.
Kekius Maximus is a well-liked web meme that mixes Pepe, the frog, and the Maximus character from the film Gladiator. Musk, who’s a recognized aficionado of meme cash, additionally retweeted a submit that mentioned, “Elon Musk is now Kekius Maximus.”
Musk additionally modified his profile image on X to Pepe, the frog, holding a joystick and enjoying a online game.
The Tesla CEO has modified his identify on Twitter a number of occasions. In January 2023, he modified his identify to Mr.Tweet. One other time, he modified his X deal with to ‘Naughtius Maximus.’
Furthermore, it isn’t the primary time that the billionaire entrepreneur behind Tesla and SpaceX has influenced the crypto market. Musk is a vocal supporter of the dog-themed Dogecoin and has boosted its value a number of occasions by means of his tweets.
In 2021, Dogecoin surged after Musk mentioned it’s the individuals’s crypto.
Extra just lately, in November, Elon Musk posted a meme depicting Doge. Though he immediately referred to the Division of Authorities Effectivity, the meme coin Dogecoin additionally briefly pumped.
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