Tesla and SpaceX CEO Elon Musk, who is closely involved with the cryptocurrency world, is once again increasing the volatility in the prices of memecoins in the market with his latest moves.
Musk recently named his character in the game Path of Exile 2 Kekius Maximus and shared it on X. In addition, he changed his name on X to Kekius Maximus. Musk also changed his profile photo to the mascot of memecoin PEPE, resulting in the creation of a memecoin called Kekius Maximus (KEKIUS).
With Musk frequently mentioning his character in the game, the value of the memecoin in question has also increased significantly. However, it should be noted that the memecoin has no connection to Elon Musk.
Finally, just minutes ago, Elon Musk restored his name and profile photo on the X. As a result, the price of the KEKIUS memecoin dropped by more than 50 percent.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-the-altcoin-elon-musk-pumped-a-few-days-ago-crashed-after-his-last-move/