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- Elon Musk’s X profile change to “Kekius Maximus” sparked a PEPE price jump and the launch of a new crypto token.
- Musk’s social media moves drive quick changes in crypto markets and community behavior.
Tech tycoon Elon Musk recently changed his X (or Twitter) display name to “Kekius Maximus” and adopted Pepe the Frog as his avatar. This alteration continues Musk’s interaction with meme culture and has immediately affected the crypto assets market.
Musk Embraces Meme Culture with “Kekius Maximus” Rebrand
The profile change comes after Musk engaged with a Grok image on December 10, in which Pepe the Frog, symbolizing the alt-right, is portrayed as a Roman general in a Coliseum. The image seems to have taken some inspiration from the recently released Gladiator 2 and has some features borrowed from the online game Path of Exile, where getting to level 80 is a thing.
The crypto market has been very sensitive to Musk’s profile changes. The PEPE token, inspired by the Pepe the Frog meme, experienced a 12% price surge within two hours of Musk changing his profile picture. Crypto developers, who are usually fast in response to market shifts, have already released a new currency called Kekius Maximus or (KEKIUS) following Musk’s brief rebranding.
Market Response
This is not the first time Musk’s social media activity has affected the cryptocurrency market. This year, his temporary replacement of Twitter’s bird logo with the Dogecoin symbol caused a massive spike in the price of DOGE. The shift happened soon after he bought the platform for $44 billion and transformed it into X.
The target audience of cryptocurrencies has responded actively to Musk’s latest activities on social media. Several users highlighted the $PEPE token in response to the new profile. Analysts say that while most of the changes regarding Musk’s persona are actively kept for a short while, they always stir significant attention and activity in the cryptocurrency market.
Impact on Cryptocurrency Community
Some industry experts have pointed out that Elon Musk keeps trending in meme culture, and the tweets on cryptocurrency keep him relevant to the market despite the temporary nature of his social media changes. The introduction of the KEKIUS token proves that the cryptocurrency market is able to force quick changes in social media trends and events related to famous technology figures.
This shows that there is still a link between social media personas and cryptocurrency markets because of how quickly the market reacted to Musk’s change in profile. Although the long-term result of such actions is yet to be witnessed, experts claim the cryptocurrency market’s reaction to such trends only proves how dependent it is on celebrity engagement and social media.
Such trends are being watched by the market participants as earlier cases of Musk’s involvement with crypto-related content moved the market. However, professional traders and investors do not get overly excited and do not buy into the enthusiasm, relying on the fact that most meme coins are highly unstable and that social media influence is a short-term phenomenon.
As technological advancements in cryptocurrencies continue, celebrity endorsements such as Musk’s will continue to impact the market and create new coins in the short run. This shows that the crypto community is equally reverent of icons’ changing image as the stock trading community and that the market’s ongoing adaptability and responsiveness to social media trends.
