Elon Musk has once again caused a stir in the cryptocurrency world by changing his name on the social media platform X to “Kekius Maximus.” This is the second time Musk has adopted this persona, which combines the popular internet meme “Pepe the Frog” with the character Maximus from the movie “Gladiator.”
Following Musk’s name change, several meme coins referencing “Kekius Maximus” saw significant price increases. The token trading under the name Kekius Maximus ($KEKIUS) soared over 1,700% in less than six hours, according to CoinGecko. Other similarly named tokens also experienced substantial gains.
This is not the first time Musk’s online activity has impacted the cryptocurrency market. In December 2024, when he previously adopted the “Kekius Maximus” identity, the original token saw a rapid 1,200% spike in value. Earlier this year, in February, Musk temporarily changed his X name, triggering a flood of Bōlz-themed tokens that also experienced dramatic but short-lived price increases.
Musk’s meme-driven market influence
Musk’s influence on the cryptocurrency market has been a topic of discussion and concern for many. His ability to shift markets so dramatically through simple changes to his online persona highlights the growing influence of internet culture and social media on cryptocurrency markets.
The name “Kekius Maximus” is derived from the combination of “Kek,” a term used in internet trolling, and “Maximus,” a Latin word signifying something grand or ultimate. Thus, “Kekius Maximus” translates to the ultimate meme lord. The value of the Kekius Maximus token is often driven by Musk’s posts on X, with the token achieving a record high of $0.3978 in January when he initially changed his name on the platform.
However, the token’s price is susceptible to significant shifts due to Musk’s unpredictable changes in his social media persona. As the cryptocurrency world continues to evolve, it remains to be seen how Musk’s influence and the impact of internet culture will shape the future of the market.