Tesla CEO Elon Musk has stirred the cryptocurrency market by changing his profile name on X (formerly Twitter) to "Kekius Maximus" and updating his profile picture to an armored depiction of the popular meme character Pepe the Frog.
The move has not only captured his millions of followers but also sent a relatively obscure cryptocurrency - Kekius (KEKIUS) - soaring by over 500% in value within hours.
Musk’s new persona and Crypto buzz
The new avatar, featuring Pepe clad in golden armor and holding a video game controller, is emblematic of Musk’s affinity for memes and internet culture. The name “Kekius Maximus” appears to reference a memecoin that blends humor with decentralized finance.
According to reports, KEKIUS, which was trading at $0.005667 as of December 27, 2024, experienced a staggering 497.56% increase within 24 hours, fueled by investor enthusiasm and Musk's cryptic online activities.)
Adding to the speculation, Musk tweeted, “Kekius Maximus will soon reach level 80 in hardcore PoE,” leaving followers guessing about potential connections between his statement and the cryptocurrency.
Impact on Cryptocurrency market
The influence of Musk’s online persona on cryptocurrency markets is not unprecedented. His past endorsements of Dogecoin have led to significant price surges, cementing his reputation as a key player in the crypto space.
The KEKIUS token recorded a 24-hour trading volume of $2.73 million before retracting approximately 24.30% after reaching its peak. Other Kekius-themed tokens also saw a spike of over 200%, underscoring the ripple effect of Musk’s actions.
Musk’s history of online antics
This is not the first time Musk’s X account has made headlines. In January 2023, he humorously adopted the name “Mr. Tweet,” remarking that the platform wouldn’t allow him to change it back. In another instance, he used the moniker “Naughtius Maximus,” showcasing his penchant for playful online identities.
His latest move coincides with a broader spotlight on his activities, as he was recently named the head of the "Department of Government Efficiency" (DOGE) by President-elect Donald Trump. The announcement humorously acknowledges Musk’s profound impact on the Dogecoin market, further intertwining his tech empire with internet culture.
What’s next for Kekius and Musk?
While Musk has not explicitly confirmed any association with KEKIUS, his enigmatic actions continue to drive market trends and online discourse. Analysts believe that the ongoing speculation around Musk’s intentions could sustain interest in the memecoin for the foreseeable future.
Whether the surge of KEKIUS marks the beginning of a long-term trend or a fleeting moment of hype remains to be seen. However, Musk’s ability to blend humor, technolo
