- Ethereum-based meme coin KEKIUS surged 3,000% after Elon Musk changed his Twitter name to match the token.
- Market capitalization rose from $12.7 million to $400 million in 30 hours following Musk’s profile change.
- Token price crashed 67% within an hour after Musk reverted his profile due to a Cybertruck incident.
- The meme originated from Twitter’s AI tool Grok and gained popularity through social media engagement.
- The incident demonstrates the volatile nature of meme coins influenced by social media personalities.
Ethereum meme coin KEKIUS experienced extreme price volatility tied to Elon Musk’s social media activity, highlighting the speculative nature of cryptocurrency markets. The token’s market value fluctuated dramatically between December 2024 and January 2025, reaching nearly $400 million before dropping sharply.
Social Media-Driven Price Action
The price movement timeline shows clear correlation with Musk’s social media activity:
- December 10, 2024: Initial endorsement by Musk
- December 27, 2024: $1.7 million market cap achieved
- December 31, 2024: Peaked at $400 million after Musk’s profile change
- January 1, 2025: Dropped to $95 million following profile reversion
Market Impact of External Events
The token’s decline coincided with a serious incident involving a Tesla Cybertruck at the Trump Hotel in Las Vegas. According to reports, an explosion resulted in a fatality, prompting Musk to address the situation through his official Twitter account.
KEKIUS demonstrates the volatile nature of meme tokens, which often experience rapid price movements based on social media influence rather than fundamental value. The token, which features Pepe the Frog imagery according to its official website, lost 83% of its value within 10 hours of Musk changing his profile back.
Law enforcement classified the Cybertruck incident as a potential act of terrorism, leading to Musk’s immediate attention shift away from the meme coin, resulting in the market correction.
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