Elon Musk's Brief Name Change on X Turns $66 Into $3 Million for Lucky Memecoin Trader

A brief and seemingly bizarre name change by Elon Musk on X (formerly Twitter) has resulted in a jaw-dropping financial windfall for one fortunate memecoin trader. The trader turned an initial investment of just $66 into as much as $3 million in a matter of weeks, thanks to the sudden rise in popularity of the Kekius Maximus (KEKIUS) memecoin.

On December 14, the trader purchased over 10 million KEKIUS tokens, a memecoin inspired by a combination of the internet meme Pepe the Frog and the iconic gladiator character Maximus from the 2000 film Gladiator. The trader then sold a portion of their holdings—2.81 million KEKIUS tokens—on January 1 for a substantial 60.3 Ether (ETH), valued at approximately $3.4 million at the time. The sale marked an extraordinary 45,900-fold gain, according to blockchain analytics firm Lookonchain.

The meteoric rise in the value of KEKIUS coincided with Musk’s temporary name change on X to “Kekius Maximus,” a reference to the meme. This sudden shift in Musk’s profile, paired with the release of AI-generated images depicting a Pepe the Frog-inspired character ready for battle in the Colosseum, helped drive an incredible surge in KEKIUS’ market cap.

By December 31, the market cap of KEKIUS had already reached $11.4 million, but on January 1, it exploded to $380 million, according to CoinGecko data. Musk’s post, which garnered a staggering 48.2 million views, further fueled the rally in the memecoin, pushing its value even higher in a matter of hours.

However, the excitement was short-lived. After Musk reverted his profile back to its original name and picture, the market cap of KEKIUS plummeted from its peak of $380 million to around $100 million. Despite the significant decline, the memecoin still maintains a loyal following, with over 23,600 investors holding KEKIUS tokens, according to CoinGecko.

While KEKIUS surged, other memecoins with similar themes launched on the Solana blockchain around the same time did not garner the same level of attention, as reflected in data from DEXScreener.

On the same day Musk's name change caused a stir, he was also embroiled in a far more serious issue: the explosion of a Tesla Cybertruck outside the Trump International Hotel in Las Vegas. Authorities are investigating the incident as a possible act of terrorism, with Musk confirming that the explosion was caused by fireworks or a bomb, unrelated to the vehicle itself.

While the memecoin frenzy surrounding Musk’s brief name change has now cooled, the remarkable rise and fall of Kekius Maximus serve as a striking reminder of the volatile and unpredictable nature of the crypto and memecoin markets. For one trader, however, it has been a truly unforgettable start to the year.