Elon Musk Becomes ‘Kekius Maximus’—Meme Coin Soars 120%
Elon Musk's recent profile name change to "Kekius Maximus" on X caused the meme token KEKIUS to surge nearly 120% within 24 hours, rising from 0.025 to 0.0502. This is not the first instance of Musk's social media activity impacting meme coins; a similar name change last December led to a 500% increase in KEKIUS before a subsequent price drop. Traders often react quickly to Musk's profile changes, treating them as buy signals, but many exit once the hype subsides. KEKIUS, which operates on Ethereum and Solana, combines various cultural references but lacks substantial backing. Such volatility highlights the risks of celebrity-influenced tokens, which can experience rapid gains and losses. Musk's previous name change to "Gorklon Rust" also resulted in a 100% spike in the related coin GORK, demonstrating the unpredictable nature of these investments. Investors are advised to remain cautious due to the speculative nature of these assets.
