Elon Musk’s Brief Name Change on X Turns $66 Crypto Bet into $3 Million Gain

The trader who invested in Kekius Maximus (KEKIUS) on December 14 purchased over 10 million tokens for just $66 worth of Ethereum ETH $1,910.30 .

By January 1, they sold a portion of their holdings for 60.3 Ethereum, equivalent to approximately $93,000 at the time, while keeping the rest.

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Blockchain analytics firm Lookonchain estimated the total value of the trader’s remaining tokens to be $3.05 million, which is 45,900 times the initial investment.

The rise of the memecoin, KEKIUS, coincided with Musk’s name change and social media activity. Musk shared AI-generated images of "Pepe PEPE $0.00000644 the Frog" as a gladiator in the Roman Colosseum. One of his posts garnered over 50 million views.

By New Year’s Eve, KEKIUS had reached a market value of $11.4 million. Following Musk’s profile change, its market cap skyrocketed to $380 million on January 1.

However, after Musk reverted his name and profile picture, the memecoin dropped and settled at $100.5 million. Despite this decline, over 23,600 investors still hold KEKIUS tokens.

Musk's brief name change on X is not the only one that has sparked buzz. Recently, Vitalik Buterin criticized Musk's approach to debates on X. What did Buterin say? Read the full story.