Pepe-themed meme cash, PEPE and KEKIUS, skilled important positive factors after tech billionaire Elon Musk rebranded his X profile, igniting a surge of pleasure amongst meme coin fanatics.
Ethereum-based KEKIUS skyrocketed by over 2,600%, reaching an all-time excessive of $0.301 and seeing its market cap explode from $12.8 million to greater than $265 million.
In the meantime, PEPE rallied roughly 20%, paring a few of its losses from the earlier week earlier than pulling again barely.
The hype surrounding Musk’s rebranding has additionally led to the creation of recent meme cash on platforms like Solana’s Pump.enjoyable and Tron’s SunPump, with tickers reminiscent of KM, KEKIUS, and MAXIMUS rapidly showing on the scene.
Elon Musk’s ‘Kekius Maximus’ Persona Sparks Market Mania
On December 31, 2024, Musk shocked his 210 million X followers by updating his profile to function a brand new show identify, ‘Kekius Maximus,’ and an avatar of Pepe the Frog wearing golden gladiator armor holding a online game controller.
The profile image combines inspirations from Maximus Decimus Meridius, the enduring protagonist from the movie Gladiator, and Pepe the Frog, a well-liked web meme typically related to gaming tradition.
Whereas Musk didn’t present an official purpose for the rebrand, he dropped a cryptic trace earlier, tweeting:
“Kekius Maximus will quickly attain degree 80 in hardcore PoE.”
The tweet references Path of Exile, a web-based sport Musk is understood to play, the place reaching degree 80 represents a big milestone.
Musk’s affinity for Pepe-themed imagery isn’t new. In latest months, his tweets that includes Pepe memes have sparked comparable market reactions. For instance, on December 10, Musk shared a picture of ‘Kekius Maximus’ created by Grok, which triggered a brief rally for PEPE.
Warning for Meme Coin Merchants
Whereas these rallies have captivated buyers, the crypto neighborhood warns towards over-reliance on celebrity-driven hype. Such rallies typically show short-lived.
- In 2020, Musk’s tweets drove Dogecoin (DOGE) to an all-time excessive of $0.7376 by Could 2021, with its market cap surpassing $47 billion. Nevertheless, Dogecoin ultimately retraced, ending the 12 months at simply $0.1708.
- Equally, the Solana-based meme coin Water (WATER) surged 400% after a promotional publish by soccer legend Lionel Messi, solely to lose most of its positive factors shortly afterward.
Present Market Replace
As of press time:
- PEPE has dropped 9% from its intra-day excessive of $0.000021 as profit-taking kicks in.
- KEKIUS has retraced 6% from its peak of $0.301 and is now buying and selling at $0.286.
Buyers are suggested to strategy with warning, as celebrity-driven meme coin rallies might be extremely risky and unsustainable.
What to Know
- Memecoin like Kekius are fairly infamous for slumping in worth worth after days of preliminary pump. Nevertheless, a powerful neighborhood can save a memecoin and provides it extended worth as seen with Dogecoin.
- Dogecoin and Shiba Inu proved the doubters fallacious by remaining related after a few years since its launch. Satirically Elon Musk was barely concerned with Dogecoin in its early days. Kekeius Maximus is one other memecoin the billionaire businessman is fronting. It stays for the business to see how far the memecoin will go.
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