Elon Musk, CEO of Tesla and owner of X (formerly Twitter), has sparked a major price surge for the frog-themed memecoin, Kekius Maximus (KEKIUS).
The token skyrocketed 142% just within 24 hours after Musk renamed his X profile back to Kekius Maximus, a move that often triggers a strong price surge for related tokens.
The price of the token surged to $0.063, driven by a strong trading volume increase of 500% to over $50 million. KEKIUS is currently trading at $0.0466, up 77% since the bullish trend began.
This increase marks a change from previous months when this token was trading at around $0.025. Musk's decision to rename his X profile to Kekius Maximus has once again drawn attention to the memecoin.
Although KEKIUS was not among the notable top memecoins in May, Musk's influence has brought it back into the spotlight. His ability to impact cryptocurrency prices has been clearly documented, from boosting Dogecoin to changing the X icon to the DOGE logo in 2021. While Dogecoin and Shiba Inu remain the preferred coins for investors, KEKIUS is quickly attracting attention.
Currently, the broader memecoin market is also witnessing positive changes. Dogecoin is heading towards a potential super cycle, and Shiba Inu has shown a 1.09% increase in the last 24 hours. The total market capitalization of memecoins now stands at nearly $69 billion. Whether KEKIUS can maintain this growth momentum remains uncertain, but one thing is for sure: Elon Musk still knows how to make the market move.