In just 18 days, a trader capitalized on the hype surrounding Kekius Maximus, a meme coin that was inspired by Elon Musk’s fleeting name change, and transformed $66 into $3 million.
On New Year’s Day, headlines were dominated by high-profile incidents involving vehicles, which prompted enquiries regarding public security and safety. The Tesla Cybertruck sparks outside the Trump International Hotel in Las Vegas resulted in the passing away of the driver and the injury of seven others. The local authorities are currently investigating the incident as a potential isolated act of attack. As a result of Elon Musk’s fleeting name change on X to “Kekius Maximus,” a trader was able to convert $66 into $3 million, causing a commotion in the cryptocurrency world.
Meme currencies have demonstrated their ability to be both profitable and whimsical in the expanding crypto market. Elon Musk’s brief appearance as “Kekius Maximus” on X sparked a meme coin frenzy, which ultimately resulted in a trader converting a mere $66 worth of Ether into an astonishing $3 million in just 18 days.
On December 14, the trader bought 10.17 million Kekius Maximus (KEKIUS) tokens, although their identity remains unclear. Lookonchain, a blockchain analytics firm, reports that the trader sold 2.81 million tokens for 60.3 Ether (ETH) on January 1, retaining the remaining stockpile for an unrealized gain of 45,900%. However, this extraordinary turn of events underscores the meme currencies’ explosive potential, despite the typical cautionary tales about their volatility.
Kekius Maximus, an inventive combination of Pepe the Frog and the lead character from the 2000 film Gladiator (played by Russell Crowe), was born on December 13. The meme coin swiftly acquired traction by capitalizing on Elon Musk’s affinity for internet memes and its distinctive theme.
By December 31, the token’s market capitalization had reached $11.4 million, as per Etherscan. According to CoinGecko data, it reached a zenith of $380 million on Jan. 1, primarily due to Musk’s high-profile exploits.
Musk intensified the passion by publishing AI-generated images of a gladiator inspired by Pepe that engaged in combat within the renowned Roman Colosseum. A single post on X garnered 48.2 million views, which significantly impacted KEKIUS’s market performance and attracted significant attention.
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