Crypto Trader Nets 17,000% After Elon Musk’s X Name Change
Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has once again shocked the cryptocurrency market by simply changing his name on his X account. This time, Musk renamed his official profile “Kekius Maximus” and changed his avatar to a PEPE frog wearing antique armor and holding a game controller. Although the eccentric tech mogul offered no explanation, the sudden about-face sparked intense speculation.
One of the biggest beneficiaries of this development is a relatively unknown memecoin also known as Kekius Maximus (KM). Notably, just hours before Musk rebranded, an anonymous trader made a noteworthy purchase that resulted in a huge windfall. On-chain analytics company Lookonchain (@lookonchain) report via X:
“What a lucky trader – or maybe an insider! 9 hours ago he spent $4,360 to buy 18.15M KM. Just an hour ago Elon Musk changed his profile name to Kekius Maximus, causing the price of KM Soared by about 17,000%. The 18.15 million kilometers he purchased is now worth $638,000!”
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Whether the timing was pure coincidence or something more coordinated remains an open question. As of press time, there is no indication that Musk has any direct relationship with the token. However, the trader’s sensational profits highlights the often unpredictable relationship between Musk’s online antics and sudden market swings.
At press time, Kekius Maximus (KM) is trading at $0.03087, up 12,533% in the past 24 hours. Its market capitalization has soared to $30.87 million, while daily trading volume has soared to approximately $103.51 million.
However, contrary to claims in some crypto media outlets, Musk’s name change has no connection or affiliation with memecoin itself. This is once again a lucky surprise for some cryptocurrency traders.
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It’s worth noting that this isn’t the first time Musk has sparked a frenzy over a change of name or profile. In the past, he has used nicknames such as Mr. Tweet, Naughty Moniker and Naughtius Maximus. In April 2023, he attracted widespread attention when he replaced Twitter’s bird logo with a Dogecoin Shiba Inu. DOGE price increases temporarily.
There are various interpretations in the online community regarding his recent adoption of the term “Kekius Maximus”. The origins of “Kek” can be traced to the automatic translation of “LOL” in World of Warcraft, which later evolved into a wider Internet meme. “pepe the frog” Also intertwined with “Kek,” which has been co-opted by various online subcultures over the years. The concept of “Kekistan”—a fictional internet “nation” that uses cultural satire to satirize identity politics, and Kekistan’s flag parodies german war flag.
Recently, Musk caused an uproar in German politics by expressing his support for the Alternative for Germany (AFD) party. Mainstream media and other political parties have strongly criticized Musk’s actions, and he himself agreed to an interview with AFD leader Alice Wedel to reiterate his position. However, whether there is a wider context for these actions remains purely speculative.
Featured image from X, chart from TradingView.com
