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US billionaire and CEO of Tesla, Elon Musk, has returned to his original name on social media platform X after temporarily changing his name to “Kekius Maximus” on December 31.
The name change to Kekius Maximus immediately increased the value of similarly themed cryptocurrencies. However, it seems like the value of these coins is decreasing as Musk once again changed the name of his X account.
Musk’s name change caused the meme coin value to increase sharply and then decrease rapidly!
The Kefius Maximus coin has dropped nearly 50% in the past 24 hours after Musk changed the name on X. At press time, the coin is trading at $0.09217. However, KEKIUS is still up more than 6,000% on the 7-day chart, with a market capitalization reaching $92 million.
Some traders who invested in Kekius Maximus after its sudden popularity are now suffering losses.
“rektdolphin.eth exchanged all 62 billion PEPE (~1.2 million USD) for 4.23 million KEKIUS 12 hours ago (now worth 290K USD). That’s why you shouldn’t get FOMO into temporary crazes. $1 million flying in 12 hours,” one the analyst said on Twitter.
One another analyst added that the ‘reign’ of Kekius Maximus was over.
“BREAKING NEWS: The reign of Kekius Maximus has ended. Temporary. Elon Musk is back at X.”
This move has affected other frog-themed meme coins as most of them have started adjusting profits from December 31.
Previously, on December 31, Kekius Maximus and other frog-themed meme coins exploded after Musk changed the name on X. According to data from CoinGeckothe market capitalization of these coins has even reached 11.8 billion USD.
Kekius Maximus is a popular Internet meme combining Pepe, the frog, and the character Maximus from the movie Gladiator. Musk, a cryptocurrency enthusiast, also retweeted one the post says“Elon Musk is now Kekius Maximus.”
Musk also changed his profile picture on X to an image of Pepe, the frog, holding a controller playing a video game.
The CEO of Tesla has changed his name many times on Twitter. In January 2023, Mr changed name became Mr.Tweet. Another time, he changed the name of the X account to ‘Naughtius Maximus.’
Furthermore, it is not the first time that the billionaire founder of Tesla and SpaceX has influenced the cryptocurrency market. Musk is a staunch supporter of Dogecoin and has repeatedly boosted its price through his tweets.
In 2021, Dogecoin has surged after Musk said it is the people’s cryptocurrency.
Recently, in November, Elon Musk posted a meme depicting Doge. Even though he directly mentioned “Government Performance Department,” Meme Coin Coin Dogecoin has also increased slightly.
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