From $54K to $1M – How Elon Musk’s X username change pumped a crypto by 1600%!
- Musk’s ‘Kekius’ username minted crypto millionaires.
- Will the memecoin traction prolong in January?
Elon Musk minted crypto millionaires through the New 12 months’s crossover. He lately modified his X username to a mysterious character – Kekius Maximus. The profile image was additionally modified to reflect the so-called ‘Kekius’, which resembled the frog-themed ‘Pepe’ however had man-like options.
Surprisingly, there was a memecoin on Ethereum [ETH] with an analogous identify and outfit. The token pumped by over 6,000% in lower than 24 hours as Musk’s new identify went viral.
Kekius Maximus millionaires
With the wild run, some prime KEKIUS holders turned immediate millionaires. In line with blockchain analytics agency Spot On Chain, one dealer turned his $54K of KEKIUS into $1M in simply two days.
“This dealer turned $54.8K into $1M with $KEKIUS! Between Dec 19 and 15 hours in the past, dealer “0x33A” spent 16 $ETH ($54.8K) on 8.448M $KEKIUS. That may be a $948K revenue (17.3x) in simply 12 days!”
Supply: SpotOnChain
On the time of writing, the dealer nonetheless held over 6M KEKIUS value over $2.5M, suggesting that he anticipated an extra pump earlier than cashing out.
That being stated, the viral memecoin noticed probably the most vital traction on New 12 months’s Eve. In reality, Etherscan data revealed {that a} whopping 2.4B KEKIUS tokens have been transferred between customers in a single day. Now, the token has over 22k holders.
Supply: Etherscan
However, will different holders see comparable windfall beneficial properties as early merchants or traders?
On the value chart, KEKIUS noticed vital profit-taking at $0.40. Nonetheless, the lengthy wick on the decrease facet of the candle indicated that there was nonetheless sturdy demand for the memecoin.
Ought to the traction prolong, KEKIUS would possibly goal the higher ranges at $0.5 or $0.6. That will translate to a possible acquire of fifty% or 100%, respectively. Nonetheless, higher profit-taking might drag it to $0.1 or decrease.
Supply: KEKIUS/USDT, TradingView
