Elon Musk, billionaire entrepreneur and CEO of Tesla and SpaceX, has once again shaken up the cryptocurrency market with a simple name change on his X account. This time, Musk changed the name of his official profile to “Kekius Maximus” and replaced his avatar with a PEPE frog dressed in ancient armor holding a game controller. While the eccentric tech mogul has not offered an explanation, the sudden change has fueled intense speculation.
One of the biggest beneficiaries of this development is a relatively unknown memecoin, also called Kekius Maximus (KM). Notably, just hours before Musk’s rebrand, an anonymous trader made a notable purchase that generated a huge windfall. On-chain analytics company Lookonchain (@lookonchain) reported via X:
“What a lucky trader, or perhaps a connoisseur! 9 hours ago, he spent $4,360 to purchase 18.15 million kilometers. Just an hour ago, Elon Musk changed his profile name to Kekius Maximus, causing the price of KM to skyrocket by approximately 17,000%. The 18.15 million kilometers he bought are now worth $638,000!
It remains an open question whether the timing was purely coincidental or something more coordinated. As of press time, there is no indication that Musk has any direct affiliation with the token. However, the merchant sensational benefit underlines the often unpredictable relationship between Musk’s online antics and sudden market moves.
At press time, Kekius Maximus (KM) is trading at $0.03087, representing a staggering 12.533% increase in the last 24 hours. Its market capitalization has skyrocketed to $30.87 million, while daily trading volume has increased to approximately $103.51 million.
However, contrary to what some crypto media outlets claim, Musk’s name change has no connection to the memecoin itself and no affiliation exists. Once again, it is a lucky surprise for certain cryptocurrency traders.
Surprisingly, this is not the first time Musk has created a frenzy with his name or profile changes. In the past, he adopted nicknames such as Mr Tweet, Naughty Moniker and Naughtius Maximus. In April 2023, it replaced Twitter’s bird logo with the Dogecoin Shiba Inu dog, causing a temporary increase in DOGE price.
Regarding his latest adoption of the term “Kekius Maximus,” various interpretations abound within online communities. “Kek” has its origins in the machine translation of “LOL” from World of Warcraft, and evolved into a broader internet meme. “pepe the frog” is similarly intertwined with “Kek,” having been adopted by a variety of online subcultures over the years. The notion of “Kekistan,” a fictional internet “nation” that plays with cultural satire as a satirical response to identity politics, while the flag of Kekistan imitates a German war flag.
Recently, Musk has caused a stir in German politics by expressing his support for the Alternative for Germany (AFD). The main media and other political parties have harshly criticized Musk’s actions, while he himself has reaffirmed his position by accepting an interview with AFD leader Alice Weidel. However, whether there is a broader context for these actions remains purely speculative.
Fountain: NewsBTC.com
