On New 12 months’s Eve, Elon Musk struck once more.
The billionaire entrepreneur and frequent social media provocateur as soon as once more shook up the cryptocurrency market, altering his X (previously Twitter) profile identify to “Kekius Maximus” and swapping his avatar to an armored depiction of Pepe the Frog.
His shout-out to Pepe, a beloved determine in meme tradition, despatched shockwaves by way of the memecoin market. In a single day, Musk’s tweet achieved:
The beginning of a brand new memecoin, Kekius Maximus
A 20% worth surge for $PEPE
Revived curiosity in frog-themed memecoins like Wall Avenue Pepe
With a easy profile image, Musk demonstrated that he stays the lord of the memes, from Doge to Pepe the Frog and now Kekius Maximus.
The Market Impression of Musk’s Transfer
Musk’s profile replace triggered the beginning and meteoric rise of Kekius Maximus (KEKIUS), a meme token impressed by his new persona.
KEKIUS noticed a staggering 1,200% worth enhance and a buying and selling quantity of over $5M in simply 24 hours.
In the meantime, Pepe Coin (PEPE), one other token tied to the long-lasting frog meme, skilled its personal spike, up 3.4% up to now week.
Memes Make Cash, Resonate With Group
Pepe the Frog, initially created by artist Matt Furie, has transcended its roots in web meme tradition to turn into an emblem of the ever-evolving relationship between digital tradition and monetary markets.
Musk stays keen to interact with this imagery, highlighting the facility of meme tradition on the crypto market.
Just some strikes – like altering a profile pic – present how meme tradition can form real-world financial phenomena.
Musk’s actions underscore the facility of superstar endorsements and social media in influencing investor conduct and market sentiment.
PEPE Energy, Massive WEPE Strikes?
For Elon Musk, there’s all the time one massive query: what’s subsequent?
His altering his identify to Kekius Maximus exhibits the attraction of frog-themed meme cash. $PEPE boosted on the again of Musk’s tweets, whereas $PEPU – Pepe Unchained – skilled a rise in buying and selling instantly afterwards, with buying and selling quantity up 16%.
Elon Musk’s playful engagement with meme tradition continues to blur the strains between humor and finance and units the stage for different meme cash to make massive strikes.
Wall Avenue Pepe, $WEPE, seems set to proceed the profitable streak for frog-themed memes. The continued presale, anticipated to conclude someday in early 2025, has already raised over $38M.
A $1,000 funding into $PEPE in early March 2024 would have returned almost $2.2K by the tip of the yr. That’s a possible acquire of 119.4% in 9 months.
No funding is a positive factor; make sure to do your individual analysis and don’t take anybody’s phrase for it — even Elon Musk’s.
But it surely’s price asking: is $WEPE positioned to be the following massive inexperienced winner?
