On New Year’s Eve, Elon Musk attacked again.
The billionaire businessman and frequent social media provocateur once again shook up the cryptocurrency market, changing his X (formerly Twitter) profile name to “Kekius Maximus” and swapping his avatar for an armored representation of Pepe the Frog.
His thanks to Pepe, a beloved figure in meme culture, sent shockwaves through the memecoin market. Overnight, Musk’s tweet achieved:
- The birth of a new memecoin, Kekius Maximus
- A 20% price increase for $PEPE
- Renewed interest in frog-themed memecoins like Wall Street Pepe
With a simple profile photo, Musk showed that he is still the lord of memes, from Doge to Pepe the Frog and now Kekius Maximus.
The impact on the market of Musk’s measure
Musk’s profile update triggered the birth and meteoric rise of Kekius Maximus (KEKIUS), a meme inspired by his new persona.
KEKIUS experienced a staggering 1,200% price surge and over $5 million in trading volume in just 24 hours.
Meanwhile, Pepe Coin (PEPE), another token linked to the iconic frog meme, saw its own surge, up 3.4% last week.
Memes make money and resonate with the community
Pepe the Frog, originally created by artist Matt Furie, has transcended his roots in Internet meme culture to become a symbol of the ever-evolving relationship between digital culture and financial markets.
Musk remains eager to engage with these images, highlighting the power of meme culture in the cryptocurrency market.
Just a few moves – like changing a profile photo – show how meme culture can shape real-world economic phenomena.
Musk’s actions underscore the power of celebrity endorsements and social media to influence investor behavior and market sentiment.
PEPE Power, big WEPE movements?
For Elon Musk there is always one big question: what’s next?
His name change to Kekius Maximus shows the appeal of frog-themed meme coins. $PEPE surged thanks to Musk’s tweets, while $PEPU (Pepe Unchained) saw a surge in trading immediately afterwards, with trading volume increasing by 16%.
Elon Musk’s playful engagement with meme culture continues to blur the lines between humor and finance and sets the stage for other meme coins to make big moves.
Wall Street Pepe, $WEPE, looks set to continue the winning streak of frog-themed memes. The ongoing pre-sale, which is expected to conclude in early 2025, has already raised more than $38 million.
A $1,000 investment in $PEPE at the beginning of March 2024 would have returned almost $2,200 by the end of the year. This is a potential gain of 119.4% in nine months.
No investment is safe; Make sure you do your own research and don’t take anyone’s word for it, not even Elon Musk’s.
But it’s worth asking: is $WEPE positioned to be the next big green winner?
