Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, once again shook up the crypto market with a simple name change on his X account. This time, Musk changed his official profile name to “Kekius Maximus” and replaced his avatar with a PEPE frog wearing antique armor and holding a game controller. While the quirky tech giant hasn't 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). It is worth noting that hours before Musk changed his name, an unknown businessman made a significant purchase that resulted in a windfall. Chain analysis company Lookonchain (@lookonchain) It has been reported via X:
“What a lucky merchant—or perhaps an insider!” 9 hours ago, he spent $4360 to buy 18.15 million km. Just an hour ago, Elon Musk changed his profile name to Kekius Maximus and increased the price of KM by 17,000%. The 18.15 million kilometers he bought is now worth $638,000!
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Whether the timing was purely coincidental or something more coordinated remains an open question. At the time of publication, there is no indication that the mask has a direct dependency on the token. However, it belongs to the merchant Exciting profits It underscores the often unpredictable relationship between Musk's online antics and sudden market movements.
At press time, Kekius Maximus (KM) is trading at $0.03087, representing a staggering 12,533% gain in the past 24 hours. Its market capitalization reached $30.87 million, while the daily trading volume reached $103.51 million.
However, contrary to what some crypto media claim, the renaming of Mask has nothing to do with memecoin itself, nor is there any affiliation. Once again, it comes as a surprise to some cryptocurrency traders.
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It is worth noting that this is not the first time that Musk has caused controversy by changing his name or profile. In the past, he has adopted names such as Mr. Tweet, the Natty moniker, and Natius Maximus. In April 2023, he replaced Twitter's bird logo with the Dogecoin Shiba Inu dog, causing Temporary increase in the price of DOGE.
Regarding his latest use of the term “Kekius Maximus”, various interpretations abound in online communities. “Kek” traces its origins to World of Warcraft's automatic translation of “LOL”, which became a wider Internet meme. “Pepe the Frog” is similarly intertwined with “Kek”, which has been adopted by various online subcultures over the years. The concept of “Kekstan” – a fictional internet “nation” that plays cultural satire as a satirical response to identity politics. while the flag of Kazakhstan is similar to the German war flag.
Musk has recently made significant waves in German politics by voicing support for the Alternative for Germany (AFD). Mainstream media and other political parties have strongly criticized Musk's actions, while he himself has confirmed his position by agreeing to an interview with AFD leader Alice Weidel. However, whether there is a wider context for these actions remains purely speculative.
Featured image of X, chart from TradingView.com
