The “Kekius Maximus”-themed memecoin fell dramatically on Wednesday, after tech mogul Elon Musk resumed his original avatar on the social platform
What happened : Kekius Maximus (KEKIUS), based on Solana (CRYPTO: SOL), saw a rise through Wednesday afternoon, peaking at $0.0057, before crashing 90% in 10 minutes, after the CEO of Tesla and of Space X updated his account with his real name.
But despite this sudden drop, the coin still rose 232% in the last 24 hours following the momentum it had gained.
The coin’s trading volume exploded 1310% to $9.9 million in the last 24 hours, implying significant volatility.
Additionally, the frog-themed memecoin, Pepe (CRYPTO: PEPE), based on Ethereum (CRYPTO:ETH) also fell 2.70% in the last 24 hours, erasing gains made in recent days.
Also read : Elon Musk took the X community by surprise by changing his name to Kekius Maximus. He also changed his profile picture, showing the famous cartoon character “Pepe the Frog” as “Maximus”, an iconic character from the film “Gladiator”.
Marked fluctuations in the price of the cryptocurrency have reinforced the volatile and unpredictable nature of memecoins, as well as the significance of DYOR.
Price movement : At the time of writing, KEKIUS was trading at $0.001165, while PEPE was trading at $0.00001978, according to data from Benzinga Pro.
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