Kekius Maxiums Coin Falls 70% After Elon Musk Changes Profile

Bittime - The price of the Ethereum-based memecoin, Kekius Maximus, plunged nearly 70% in less than 24 hours after Elon Musk changed the name of his profile on based on data from CoinGecko.

Significant Price Surge after Musk Changes Profile Name

On December 31, 2024, Elon Musk changed the name of his profile on X to Kekius Maximus, which immediately triggered a spike in the price of this memecoin. The price of Kekius Maximus jumped more than 3,000%, rising from $12 million to $380 million. Musk also provided his support through several tweets that attracted the attention of many people, including an image of a frog wearing knight armor with the caption "Brothers in arms", as well as mentioning that Kekius Maximus would soon reach level 80 in the hardcore game Path of Exile (PoE).

Surprise After Name Change Again

However, this euphoria did not last long. On January 1, 2025, Musk changed his profile name again, and the impact was immediate: the price of Kekius Maximus plummeted by more than 50%. The market value of this memecoin dropped to $82 million. Although it recovered slightly to $170 million on January 2, the price of Kekius Maximus eventually fell again to now stand at around $121 million.

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Spectacular Profits for a Trader

Even though Kekius Maximus experienced a sharp price decline, there is an interesting story of a trader who managed to achieve extraordinary profits. Within 18 days, this trader earned profits of up to 45,906x, turning his initial capital of $66 into approximately $3.05 million.

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Based on data from Lookonchain, this trader bought 10.17 million KEKIUS using 0.017 ETH (equivalent to about $66), and then sold 2.81 million KEKIUS for 60.3 ETH, which is worth about $201,000. The trader's remaining 7.37 million KEKIUS is now worth around $2.85 million.

Memecoin's Alarming Volatility

The price movement of Kekius Maximus shows how much volatility can occur in memecoins, which are influenced by various external factors such as changes in the profile of famous figures like Elon Musk. This incident underscores the importance of caution for investors considering diving into the highly speculative world of digital assets.

FAQ tentang Kekius Maximus Coin

What caused the price of Kekius Maximus to drop drastically?

The price of Kekius Maximus fell by almost 70% after Elon Musk changed the name of his profile on X on January 1, 2025. The name change immediately affected the price of this memecoin, which had previously skyrocketed sharply.

Why did the price of Kekius Maximus rise so high before?

The price of Kekius Maximus experienced a jump of more than 3,000% on December 31, 2024, after Elon Musk changed his profile name to Kekius Maximus and uploaded several tweets supporting this memecoin.

Has anyone managed to profit from this price movement?

Yes, one trader managed to make an incredible profit by turning a $66 investment into around $3.05 million in just 18 days, although the price of Kekius Maximus then plummeted.

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Reference

The Defiant, Kekius Maximus Memecoin Dips 70% After Elon Musk Changes X Profile Name, accessed December 4.