The post Memecoin Surge: Elon Musk’s Name Change Triggers 736% Gains appeared on BitcoinEthereumNews.com.

Tesla and SpaceX CEO Elon Musk has once more raised eyebrows online, this time by updating his display name on X to Kekius Maximus. Musk changed his profile picture to Pepe. Pepe is the Frog meme where the frog is dressed like a warrior and is holding a joystick. Memecoins have reacted the way they do to Musk’s recent gig. This move caused a stir in the crypto market causing Kekius Maximus price to surge by over 736% in a matter of hours. Kekius Maximus Token Soars Over 500% Kekius Maximus (KEKIUS) another memecoin that has not attracted much attention in the market. It has risen by more than 736% in the last 24hours due to Musk’s actions. The value went up from $0.009673 to $0.1139, while trading volume hit $52.86 million.The market cap rose past $101.5 million, showing that both small-time and big-time investors were in on the action. The event highlights how Musk continues to influence the market with his actions. 1-day KEKIUS trading chart | Source coingecko Traders Reap Massive Profits Musk’s memecoin antics have made millionaires in a matter of days. One trader is said to have started with $1,964 and made $1.535 million in just over two weeks, giving him a 780x return. This individual now owns 2.54% of the total supply of KEKIUS and has already made $535000 in profit while keeping the majority of his tokens. Another trader cashed out at $167,000 after investing $434 in the Kekius Maximus-themed memecoin making it a 14,000% return on investment. These measures have only contributed to the frenzy and more and more speculators are entering the market. – Advertisement – But with such a rapid pace of growth, there are, of course, some dangers. Professionals advise that such parabolic price movements are usually short-lived and result in…

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Filed under: News - @ December 31, 2024 2:23 pm