Elon Musk created crypto fortunes at the transition into the New Year by altering his X username to a mysterious figure named Kekius Maximus. This change also included a new profile picture resembling the character ‘Kekius’, which bore similarities to the popular frog-themed ‘Pepe’ with human-like traits.
Unexpectedly, there existed a memecoin on the Ethereum [ETH] network bearing a close name and appearance. This digital token skyrocketed by more than 6,000% within a day of Musk’s username transformation gaining immense popularity.
Rise of Kekius Maximus Wealth
Amid this remarkable surge, a number of prominent KEKIUS holders instantaneously joined the millionaire ranks. A trader reportedly turned their $54K worth of KEKIUS into $1M in just a span of two days as per data from blockchain analytics company Spot On Chain.
“A trader managed to transform $54.8K into $1M with $KEKIUS! From December 19 till 15 hours ago, trader “0x33A” invested 16 $ETH ($54.8K) to acquire 8.448M $KEKIUS. This led to a profit of $948K (17.3 times) achieved within a mere 12 days!”
As of the current moment, this trader still retained over 6M KEKIUS valued at more than $2.5M, indicating expectations of further price rises before potentially cashing out.
During New Year’s Eve, the memecoin witnessed its most significant activity surge. Notably, Etherscan data disclosed a massive transfer of 2.4B KEKIUS tokens between users in a single day, with the token now boasting over 22k holders.
The question now arises: will other KEKIUS holders witness comparable profits as the early traders and investors?
A thorough examination of the price movement for KEKIUS displays considerable profit-taking activity once it reached $0.40. Nevertheless, the extended lower shadow on the candle suggests a persistent strong demand for the memecoin.
If the momentum continues to build, KEKIUS could potentially target higher thresholds at $0.5 or $0.6, presenting an opportunity for gains of 50% or 100%, respectively. However, heightened profit-taking might push the token down to $0.1 or even lower levels.