Slightly-known meme coin referred to as Kekius Maximus noticed a dramatic worth surge on Friday, gaining over 120% inside hours. The sudden rally adopted Elon Musk’s replace to his X (previously Twitter) profile.
Musk’s title change on X typically follows up with these speculative pumps, however sure reg flags on KEKIUS are fueling notable issues.
Kekius Maximus Retains Pumping
Musk adopted the title “Kekius Maximus” on his X account and altered his avatar to an AI-generated picture of himself in gladiator-style armor.
This led to renewed curiosity within the coin, which had largely gone unnoticed in current months.
In line with CoinGecko knowledge, the digital asset spiked from obscurity to a four-month excessive of $0.06. That is far under its all-time peak of $0.4011, set throughout an analogous Musk-induced meme second in January.
In the meantime, the present spike pushed Kekius Maximus’ market cap to roughly $57 million, which can also be nicely off its earlier excessive of $181 million.
The token’s branding attracts on the Pepe the Frog meme and the long-lasting Maximus character from the movie Gladiator. This mix aligns with Musk’s rebrand and appeals to his meme-savvy viewers.
Musk has not acknowledged the coin or urged any direct involvement regardless of the token’s meteoric rise.
Nonetheless, his historical past of influencing crypto markets via refined or playful social media gestures is nicely established. That is evidenced in his previous endorsements of Dogecoin, which have educated traders to react rapidly to any sign, even when oblique.
So, Kekius’s rally highlights a recurring theme in crypto markets the place Musk’s on-line exercise typically catalyzes sudden speculative booms.
Even with out a formal endorsement, a easy reference or picture change can set off a wave of FOMO-driven shopping for amongst traders.
Previous to this occasion, Kekius Maximus had proven little motion or buying and selling quantity. Musk’s rebrand seems to have injected new life into the undertaking, albeit briefly. Historical past means that comparable meme-driven pumps typically retrace as soon as the hype subsides.
In the meantime, malicious actors look like capitalizing on the undertaking’s hype. Crypto analysts highlighted one Kekius-themed undertaking whose staff held 99% of the availability and regarded to dump it on the neighborhood.
“$KEKIUS (CA 6m51rC2jRZkrtQkNNP4sXrSTE6Yq76F9huA8MYRtpump) is a blatant apparent rip-off, don’t purchase this rubbish…they’ve 99% of the availability,” the analyst wrote.
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