Elon Musk Changes Name To Support Memecoin KEKIUS. Here's Why You Should NOT Invest In It Right Now
KEKIUS has recently gained traction, boasting a staggering 612 per cent price surge in just 24 hours. If that isn't a red flag, not sure what else would be one.
Elon Musk, the ever-eccentric tech tycoon and billionaire owner of X (formerly Twitter), on Tuesday renamed his official X account "Kekius Maximus." Known for his penchant for stirring conversation online, Musk’s latest move has left followers curious about the new moniker’s significance.
So, what inspired the name change? It's all related to cryptocurrency. Looks like the self-proclaimed 'Dogefather' has forsaken Dogecoin and now has set eyes on an entirely new memecoin.
What Is Kekius Maximus?
Kekius Maximus is the name of a meme-based cryptocurrency token called KEKIUS. This digital asset, tied to Internet culture and the famed "Pepe" meme, offers a blend of humour and decentralized finance (DeFi) - akin to all other memecoins out there, including DOGE.
How Much Does 1 KEKIUS Cost?
KEKIUS has recently gained traction in the crypto market, boasting a staggering 612 per cent price surge in just 24 hours. At the time of writing, based on CoinGecko data, the token is valued at approximately $0.09988 (or roughly Rs 8.5) with a 24-hour trading volume exceeding $51.4 million.
KEKIUS price has been skyrocketing ever since Musk showed support with his name and display photo change.
It remains to be seen to what extent Musk'd support KEKIUS. Will he go full Dogefather mode and start accepting KEKIUS tokens for Tesla purchases? Or does he have something else in mind? Only time will tell.
Should You Buy KEKIUS?
When it comes to memecoins, the one thing you need to understand is that while these coins might grow leaps and bounds in seconds, they are sure to crash HARD soon after.
Take Musk's beloved DOGE for example. Back in December 2013, Dogecoin jumped 300 per cent within just 3 days, rising from $0.00026 to $0.00095, as investors traded billions of DOGE. However, just three days later, it crashed 80 per cent as China at the time decided to forbid its banks from investing in Bitcoin and crypto.
Market sentiments play a major role in crypto. And with a boost of over 600 per cent within just 24 hours (and counting), there is no logic that can claim that investing in KEKIUS will get you a sureshot payday.
If you do decide to invest in KEKIUS now, be very sure that you will be able to deal with any major losses that you might sustain.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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