• Elon Musk name change to “Kekius Maximus” caused the value of the KEKIUS coin to skyrocket.
  • A trader turned $66 into $3 million by buying KEKIUS tokens as their value shot up.
  • Despite the gains, KEKIUS’s value has dropped from $380 million to $100 million.

Elon Musk brief name change on X to “ Kekius Maximus” led to a wild surge in the value of a new memecoin called KEKIUS. This meme token, inspired by the famous Pepe the Frog meme and the character Maximus from the movie Gladiator, experienced a market frenzy after Elon Musk profile change.

From $66 to $3 Million

On December 14, a trader bought 10.17 million KEKIUS tokens for just $66. By January 1, the value of the tokens had skyrocketed. The trader sold 2.81 million tokens for 60.3 Ether (ETH), a huge 45,900-fold gain. This transaction turned a small investment into $3 million in 18 days.

How a $66 Investment Turned into $3 Million After Elon Musk Name Change? image 0

The total market cap of KEKIUS peaked at $380 million on January 1 before falling back to $100 million when Musk changed his profile. However, the token still holds a market cap of around $308 million, with over 23,600 investors.

The KEKIUS token was created on December 13, and it quickly gained attention in the crypto community. Elon Musk involvement, especially his posts featuring AI-generated images of Pepe the Frog in Roman military gear, brought significant hype to the token. One of Musk’s posts garnered 48.2 million views, further fueling the surge in demand for KEKIUS.

While the hype was strong, the token’s value has been volatile. Analysts warn that the memecoin market is risky, as many similar tokens have experienced large price swings, with some falling over 60% from their peak. Still, some believe KEKIUS could reach a $1 billion market cap in the future.

The KEKIUS craze highlights the power of social media and celebrity influence on the cryptocurrency market. Elon Musk has previously affected the price of cryptocurrencies like Dogecoin. And his latest actions show how much impact one person can have on meme-based assets. However, experts advise caution and recommend investors carefully consider the risks of such speculative assets.