Elon Musk Alters X Username Again, Kekius Maximus Crypto Plummets
The Solana-based memecoin Kekius Maximus (KEKIUS) experienced a sharp decline of 122.8%, dropping to $0.0037 on Thursday from $0.0074 in just 15 minutes. This sudden crash followed Elon Musk’s decision to change his username on X (formerly Twitter) just two days after adopting the moniker “Kekius Maximus.”
Musk also updated his profile picture, replacing the previous image of Pepe the Frog styled as Maximus from Gladiator with one from his campaigning days for US President-elect Donald Trump. The new display picture shows Musk mid-speech with the US flag in the background.
Memecoin Frenzy and Sudden Crash
Before the price collapse, KEKIUS was soaring, reaching an all-time high of $0.0057 earlier on Wednesday afternoon. The surge was largely driven by Musk’s profile update, which included the “Kekius Maximus” name and the Gladiator-themed profile image.
However, the excitement quickly faded as Musk reverted to his original username and profile. KEKIUS subsequently plunged to $0.0012, highlighting the extreme volatility of memecoins. Despite this sharp drop, the token remained 232% higher than its price just 24 hours prior.
Massive Trading Volume Spike
Reports indicate that KEKIUS’s trading volume surged by 1,310%, reaching an impressive $9.9 million within the past 24 hours.
The hype began on Tuesday when Elon Musk briefly adopted the “Kekius Maximus” moniker and changed his profile picture to an artistic version of Pepe the Frog dressed as a warrior in armor, wielding a joystick. The move triggered a staggering 500% surge in KEKIUS’s value in just a few hours, according to CoinGecko.
Musk’s Influence and Crypto Speculation
Elon Musk’s association with cryptocurrencies and memecoins is well-documented, and his online activity has frequently fueled rapid price movements. Earlier this week, Musk issued a warning about potential US bankruptcy, further adding to speculation that influenced smaller cryptocurrencies like KEKIUS, which briefly soared by 2,000%.
The term “Kekius Maximus” references Musk’s character in the video game Path of Exile 2, a nod to the film Gladiator, and a pun derived from the online gaming term “kek”—a variation of LOL (laugh out loud) originating in South Korean gaming culture and World of Warcraft.
Conclusion
Musk’s latest move underscores the speculative nature of memecoins and their susceptibility to social media-driven hype. While KEKIUS showcased significant gains, its dramatic drop serves as a reminder of the inherent risks in meme-based cryptocurrencies. Investors are advised to exercise caution, as such assets remain highly volatile and reactive to online trends.
