Dogecoin Hero Elon Musk Just Crashed Another Meme Coin— Here&#039, s How

Elon Musk has a dual influence.

Ethereum meme coin Kekius Maximus (KEKIUS) soared over 3, 000 % from a$ 12.7 million market cap to nearly$ 400 million, in the 30 hours following Tesla CEO Elon Musk changing his Twitter name to Kekius Maximus. However, what rises may fall. Once Musk changed his profile back to normal, it caused the token to plummet 67 % in an hour to$ 95 million.

Kekius Maximus, according to the meme coin’s website, is also known as” Pepe the Frog Emperor”. The common joke of the internet frog as the head of a mythical empire is depicted in the artwork. It appears that the joke was actually created using Grok, Twitter’s native AI instrument, with Musk, who owns Online, endorsing it on December 10.

Over the coming weeks the Pepe-inspired image gained more popularity with the likes of voter journalist Autism Capital, the standard Pepe image gold consideration, and, of course, Musk posting about the Grok-generated image. In consequence, KEKIUS was launched on Ethereum and had a$ 1.7 million market cap by December 27.

Musk made the announcement that his Path of Exile character would be called Kekius Maximus, which translates to a nearly 1, 300 % increase in the market cap of$ 20 million. Remember that this was before Musk changed his account name and photo to the Grok-spawned image on New Years Eve, which caused the image gold to become so absurdly large that it nearly reached a$ 400 million market cover.

But, as the new year began to roll in, rumors of a Tesla Cybertruck exploding outside of the Trump Hotel in Las Vegas caused the pilot to perish in the explosion. In response to the unfolding affair, Musk went back to his original Twitter handle and account picture.

Trump stated that” the Tesla top team is currently looking into this matter.” He later confirmed that the blast was caused by extremely massive lights and/or a weapon carried in the base of the rented Cybertruck and was related to the car itself.

Despite being a still-developing incident that is now being investigated as an act of evil by law enforcement, KEKIUS dropped 83 % from its all-time great in just 10 days as a result of this name change and profile picture.

Since the blast, Musk has not posted about Kekius Maximus. Otherwise, he has shifted his focus to American politics.

In addition to supporting the seventh largest political party in the nation, Reform UK, Musk is now pleading for far-right advocate Tommy Robinson to get released from prison after being imprisoned for contempt of court in October. Robinson’s state was refuted in jury and he was ordered to not refute the claims, but he did.

As you might expect, plenty of joke coins have been created, including a$ 4.8 million Ok coin, which was released as a result.