- Musk’s ‘Kekius’ username has made him a cryptocurrency millionaire.
- Will memecoin traction extend into January?
Elon Musk issued a cryptocurrency millionaire during the New Year crossover. He recently changed his X username to the mysterious character Kekius Maximus. The profile picture was also changed to reflect the so-called ‘Cecius’, which resembles the frog-themed ‘Pepe’ but has human-like features.
Surprisingly, there was a meme coin. Ethereum (ETH) The names and clothes are similar. As Musk’s new name went viral, the token rose more than 6,000% in less than 24 hours.
Cecius Maximus Millionaire
The wild run made some of the top KEKIUS holders instant millionaires. According to blockchain analytics firm spot on chainOne trader converted $54,000 of KEKIUS into $1 million in just two days.
“This trader turned $54.8K into $1M using $KEKIUS! Between December 19 and 15 hours ago, trader “0x33A” spent 16 $ETH ($54.8K) on 8.448 million $KEKIUS. “That’s a return of $948,000 (17.3x) in just 12 days!”
Source: SpotOnChain
At the time of this writing, merchants are still maintained Over 6 million KEKIUS are valued at over $2.5 million. This suggests he expected an additional pump before cashing in.
That said, viral memecoins attracted the most attention on New Year’s Eve. In fact, Etherscan data exposed A whopping 2.4 billion KEKIUS tokens were transferred between users per day. There are now over 22,000 token holders.
Source: Etherscan
But can other holders reap similar windfall profits as early traders and investors?
On the price chart, KEKIUS made a significant profit at $0.40. However, the long wick at the bottom of the candle indicates that demand for memecoins is still strong.
If traction extends, KEKIUS could target upper levels of $0.5 or $0.6. This represents a potential gain of 50% or 100% respectively. However, with more profits, it could fall below $0.1.
Source: KEKIUS/USDT, TradingView