Elon Musk, the CEO of Tesla and owner of X (formerly Twitter), has sparked a big rally for the frog-themed memecoin, Kekius Maximus (KEKIUS). The token soared 142% in just 24 hours after Musk changed his X profile name back to Kekius Maximus, a move that usually triggers a sharp price jump for related tokens.
The token’s price shot up to $0.063, fueled by a massive 500% increase in trading volume to over $50 million. KEKIUS is now trading at $0.0466, up by 77% since rally began.
The surge is a departure from the previous months, during which the token traded at around $0.025. Musk’s decision to switch his X profile name to Kekius Maximus once again drew attention to the memecoin.
Though KEKIUS isn’t among the top memecoins to watch in May, Musk’s influence has brought it back into the spotlight. His power to move crypto prices is well documented, from pushing Dogecoin to changing X’s icon to the DOGE logo in 2021. While Dogecoin and Shiba Inu remain investor favorites, KEKIUS is quickly gaining attention.
Currently, the broader memecoin market is also seeing a positive shift. Dogecoin is eyeing a potential supercycle, and Shiba Inu has shown a 1.09% uptick in the last 24 hours. The total market cap of memecoins now sits at nearly $69 billion.
Whether KEKIUS can maintain this momentum remains uncertain, but one thing’s clear: Elon Musk still knows how to make markets move.
Also Read: Bitcoin Price Holds Above $100K Driven By ETF Inflows
