Elon Musk, the CEO of Tesla and X, is once again making headlines with his unconventional social media antics that often send shockwaves through the cryptocurrency market. Recently, a playful stunt involving a change to his X profile has led to a significant surge in the value of certain meme coins.
Profile Changes Ignite Market Frenzy
In the last 24 hours, Musk changed his X profile name to “Kekius Maximus” and updated his display picture to a popular meme created by Grok. This meme combines the well-known Pepe character with Maximus from the film Gladiator, leading to a wave of excitement among crypto enthusiasts.
Meme Coins Soar in Value
The Kekius Maximus meme has inspired a series of meme coins on both the Ethereum and Solana blockchains. One of the earliest versions launched just 17 days ago, and following Musk’s playful update, these coins have skyrocketed in value. According to DEX Screener data, the Solana variant has surged by an astonishing 16,000% in just one day, while the Ethereum counterpart has seen a rise of over 700%. Their market capitalizations have reached $1.6 million and $123 million, respectively.
Media Manipulation or Genuine Support?
The reasons behind Musk’s profile change remain speculative. Some analysts suggest it could indicate his backing for the meme coins, while others believe it’s a clever tactic to engage with mainstream media, especially after recent discussions surrounding a supposed burner account he uses to defend himself on the platform.
A Lighthearted Response to Media Speculation
Following the profile update, Musk has taken to social media to poke fun at the media’s reaction. He shared a light-hearted tweet, humorously acknowledging the frenzy his actions have caused:
“They can’t help it 🤣” — Kekius Maximus (@elonmusk) December 31, 2024
Origin of the Name
The name “Kekius Maximus” seems to have emerged from a playful interaction Musk had with Alex “ALX” Lorusso, an executive producer on a notable right-wing podcast. Amidst speculation about Musk’s use of a secondary account, Lorusso jokingly suggested that if Musk did have an alternate account, it would be called “Kekius Maximus or Biggus Dickus.” Musk responded, clarifying that his known alternate accounts are simply for testing software.
Connections to Pepe and Controversy
While it remains unclear whether Lorusso has any deeper connections to the Kekius Maximus meme coin, it is evident that the meme’s origins are tied to Pepe, which has garnered its share of controversy due to its associations with various political movements.
As the cryptocurrency landscape continues to evolve, events like Musk’s playful social media stunts remind us of the unpredictable nature of this market and its interplay with popular culture.
