Catenaa, Thursday, Januray 2, 2025 – Elon Musk’s sudden decision to revert to his original avatar on social platform X sent shockwaves through the cryptocurrency market Wednesday, causing the Solana-based memecoin “Kekius Maximus” (KEKIUS) to plummet 90% within minutes.
KEKIUS had surged earlier in the day, hitting $0.0057, before collapsing to $0.001165 shortly after Musk removed the “Kekius Maximus” persona and profile picture inspired by the cartoon character “Pepe the Frog” as Gladiator’s Maximus.
Despite the crash, KEKIUS remained 232% higher over the last 24 hours, reflecting the hype-driven volatility often seen in memecoins.
Trading volumes for KEKIUS skyrocketed by 1310% to $9.9 million during the frenzy. The Ethereum-based frog-themed coin Pepe also slipped 2.7%, erasing gains made earlier in the week.
Musk’s brief adoption of the Kekius Maximus theme reignited debates about the unpredictability of memecoins, underscoring the importance of thorough research for investors.
