Elon Musk X account name change spurs ‘Kekius Maximus’ insider trading questions

After a period of political reflection, which involved a significant contribution to Donald Trump’s return to the oval office to “make America great again,” Elon Musk is slowly going back to his sarcastic side. If you’ve been scrolling through X and wondering who Kekius Maximus is, well, it’s probably the last person you expect.

Elon Musk, the billionaire entrepreneur also known for his cryptocurrency advocacy, has sparked a new wave of speculation and excitement in the digital currency market. The tech mogul recently made headlines by changing his profile name on X to “Kekius Maximus,” accompanied by a new display picture featuring the infamous “Pepe the Frog” meme. 

The image, depicting the meme character in golden armor holding a video game controller, quickly gained traction online, stoking both amusement and intrigue.

Explosive growth of Memecoin Kekius Maximus ignites insider trading claims

The timing of Musk’s profile update has raised some eyebrows in the crypto community. Shortly after his name change, the cryptocurrency named Kekius Maximus (KEKIUS), which shares the name of Musk’s new avatar, saw an extraordinary surge in its market capitalization. 

In just one hour, Kekius Maximus’s market cap skyrocketed from $54,000 to an astounding $10.4 million, marking an 184-fold increase. According to Coingecko data, the market cap is now more than $130 million.

Speculation is rife about the possible connection between Musk’s name change and the dramatic rise of Kekius Maximus. A post on the blockchain analytics platform Lookonchain fueled rumors of insider trading. 

What a lucky trader—or perhaps an insider!

9 hours ago, he spent $4,360 to buy 18.15M $KM.

Just one hour ago, @elonmusk changed his profile name to "Kekius Maximus," sending the price of $KM soaring by ~17,000%.

The 18.15M $KM he bought is now worth $638K!… pic.twitter.com/FcYiYaD2wS

— Lookonchain (@lookonchain) December 31, 2024

The post claimed that a trader had purchased 18.15 million Kekius Maximus tokens for $4,360 just hours before the price surge, now worth over $638,000. The uncanny timing of Musk’s change of profile name has left many questioning whether the billionaire might have played a hand in igniting a price run.

Who is Kekius Maximus?

Kekius Maximus is a meme-inspired cryptocurrency operating across multiple blockchain platforms, including Ethereum and Solana. Despite its origins in internet humor, the coin’s developers aim to go beyond the typical meme token hype. 

The project seeks to combine fun, community engagement, and innovation while providing genuine utility within the blockchain space. Unlike many memecoins that are driven purely by speculative trading, Kekius Maximus claims it intends to create a sustainable ecosystem with real-world applications.

The project’s deflationary model and decentralized governance system provide a unique value proposition for holders. KEKIUS, the coin associated with the project, has gained significant attention, growing by over 2,000% since its launch. 

At press time, the memecoin is priced at $0.1288. It has seen a notable spike in trading volume, up by 180% in just 24 hours. 

Notably, the project recently reached 100,000 wallet holders, an achievement that signifies growing interest and adoption. KEKIUS also claims to have partnered with a top-tier blockchain gaming studio to launch a play-to-earn (P2E) game in Q1 2025, further expanding its ecosystem and user engagement.

In addition to the P2E game, KEKIUS has implemented a token burn, reducing its circulating supply by 5%, which traditionally decreases supply and boosts the price of available tokens. 

Musk’s influence on the crypto market 

Elon Musk’s influence on the cryptocurrency market is well-documented, and his recent behavior on X has only intensified his role as a major driver of crypto price movements. While Musk has not publicly commented on the reasons behind his name change, he did share several posts on X that seem to indirectly reference Kekius Maximus. 

In one post, Musk joked about how a journalist might introduce him as “Elon Musk, aka ‘Kekius Maximus’ on X,” adding, “This will be priceless.”

This will be priceless 🤣🤣 https://t.co/YoX4JEDu5l

— Kekius Maximus (@elonmusk) December 31, 2024

In another post, Musk made a cryptic reference to the cryptocurrency’s future, predicting that “Kekius Maximus will soon reach level 80 in hardcore PoE” alongside an AI-generated image of the character touching a stone marked with the number 80.

While the statement was somewhat playful in tone, it added fuel to the speculation surrounding Musk’s involvement with the coin.

This is not the first time Musk has shown his penchant for making bold, sometimes playful, changes to his online persona. In 2023, when he acquired Twitter for $44 billion, he briefly swapped the platform’s iconic blue bird logo for the Dogecoin mascot, resulting in a noticeable spike in Dogecoin’s value. 

He later rebranded Twitter to X, but the impact of his actions on Dogecoin’s price had already been felt, showcasing Musk’s power to move the crypto market with his online behavior.

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