NewsBTC
17 May 2025
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Elon Musk Changes Profile Name to Kekius Maximus, Meme Coin Surges 120%

Elon Musk's recent username change on X to "Kekius Maximus" has triggered a significant increase in the meme token KEKIUS, which surged by nearly 120% within 24 hours. The price rose from approximately 0.025 to 0.0502, according to Binance data.

Musk's Influence on Meme Coins

  • This is not Musk's first impact on meme coins; a similar name change last December caused KEKIUS to jump nearly 500% in one day.
  • Traders often interpret his profile updates as signals to buy, leading to rapid buying and subsequent selling when the hype dissipates.

Token Price Fluctuations

  • KEKIUS reached a peak of 0.0502, still well below its initial launch price of 0.25.
  • The token operates on Ethereum and Solana blockchains.

Investor Risks

  • Meme tokens, influenced heavily by celebrity endorsements, lack intrinsic value and are subject to volatility based on hype.
  • Investors face significant risks if they buy at peak prices, especially during sudden market reversals.
  • Regulators have raised concerns about the risks associated with such speculative investments.

Recent Trends in Meme Tokens

  • Musk's previous name change to "Gorklon Rust" resulted in a 100% spike in the related GORK token, which also quickly declined.
  • These trends highlight the unpredictable nature of meme tokens influenced by social media activity.

Conclusion

Investors should remain vigilant regarding these volatile price movements. Musk's profile changes continue to exert substantial influence over certain crypto assets, but this power can diminish rapidly.

Featured image from Gemini Imagen, chart from TradingView