The post Kekius Maximus Memecoin Crashes After Elon Musk’s Profile Update appeared on BitcoinEthereumNews.com.

Elon Musk’s profile change from Kekius Maximus led to a major drop in the memecoin’s market cap. The KEKIUS token’s price dropped over 70% in one hour, with the current price at $0.1157. A whale sold a large amount of KEKIUS tokens and earned a $2.3 million profit. Elon Musk, the ever-controversial tech billionaire, has done it again—setting social media and cryptocurrency markets on edge with another profile update. After creating waves by adopting the moniker “Kekius Maximus” and featuring a Roman-style Pepe the Frog as his X (formerly Twitter) profile picture on Dec 31, Musk has now reverted to his usual enigmatic self, leaving the memecoin in disarray. Kekius Maximus, a memecoin inspired by Pepe the Frog and Roman hero Maximus Decimus Meridius, saw a dramatic market shift following Musk’s update. Initially, the token had seen a meteoric rise, climbing nearly 500% to hit ATH $0.40 on Jan 1, as per CoinGecko data.  Kekius Maximus (KEKIUS) Price Chart (Source: CoinGecko) However, the fallout from Musk’s earlier antics has been dramatic. Kekius Maximus saw its market cap nosedive from $400 million to $120 million in an hour after Musk’s profile change. The token’s price dropped over 70% in a single day, with its current price hovering at $0.100 and daily trading volume at $348 million as panic set in. Further, the crash was triggered by a whale account (0x8201…) that took advantage of the situation, quickly offloading a massive amount of KEKIUS tokens. The sell-off triggered the steep price drop, but the whale managed to walk away with a $2.3 million profit, leaving smaller investors scrambling. Elon Musk and Crypto Market Reaction Musk’s latest profile change—abandoning the Kekius Maximus persona—has raised even more questions. While his earlier updates fueled speculation about potential ties to the token, no direct connection was…

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Filed under: News - @ January 2, 2025 11:19 am