The price of the KEKIUS meme coin has dropped 60% following a massive whale dump after Elon Musk changed back his X account name to his original name.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
3 mins read
Meme coin Kekius Maximus price rally triggered by Elon Musk‘s X account name change has taken a hit following a massive whale dump recently. The KEKIUS KEKIUS $0.0348 24h volatility: 2.6% Market cap: $34.78 M Vol. 24h: $13.11 M meme coin has lost 60% of its value in the last few hours dropping all the way from $0.0057 to now at $0.0012 This seems to be a classic show of pump and dump during the ongoing meme coin mania.
Earlier on New Year’s even Elon Musk changed his X handle’s name to Kekius Maximus without stating the reason behind the same. The term “Kekius” plays on “kek”, internet slang for “lol”, while “Maximus” references the Roman general Maximus Decimus Meridius.
Following Elon Musk’s name change, market analysts were quick to launch Kekius Maximus meme coin on Solana leading to a nearly 1,000% rally on day one. However, just as Elon Musk has changed his X account handle to his original name, there’s been massive whale dumping in the last few hours.
According to GMGN, following Elon Musk’s update of Kekius Maximus’ Twitter profile picture, tokens named Kekius Maximus experienced a sharp decline over the past 24 hours. A KEKIUS whale, identified as 0x82…31cc, swiftly sold holdings, causing the token’s value to drop by over 60% within an hour. The whale has reportedly secured a profit of $2.3 million from KEKIUS so far.
Investors need to be careful regarding this KEKIUS pump and dump while weighing the risks of these bets. Kekius Maximus is the latest to join the list of Solana-based meme coins that have also done well in a very short period of time. The KEKIUS meme coin in the discussion above was launched after Elon Musk’s name change on X on January 1. However, there are other meme coins as well with a similar name traded actively in recent times.
A trader, identified as “0x3b7”, has reportedly made a staggering $2.86 million – a 1,700x return – in just 18 days by trading KEKIUS tokens, likely leveraging insider knowledge. The activity began on December 14, 2024, when the trader purchased 35.58 million $KEKIUS for 0.5 ETH (approximately $1,963), reported Spot on Chain. Key transactions followed:
The trader completed the final sale of his KEKIUS holdings just ahead of today’s 60% crash in KEKIUS price. In total, the trader earned approximately 850 ETH ($2.86 million), cementing one of the most lucrative trades in the meme coin market this month.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.