Elon Musk, the world’s most popular billionaire and owner of X, has once again become a topic of discussion in Crypto World. He again named his X profile Kekius Maximus Has done, which caused the frog-theme MemeCoin Kekius suddenly came into the limelight. After this step, the price of tokens was seen up to 142% in 24 hours and the trading volume increased by 500%.
Rocket made in 24 hours Kekius Maximus Token
In just 24 hours, the price of Kekius rose by 142% to $ 0.063. Although the price was trading at $ 0.04511 till the news was written, it has still shown a growth of more than 70%. With this, the trading volume of the token rose 500% to above $ 50 million, which is unprecedented growth in the last few months.
Musk has done this before, removed the name after the pump
This is not the first time Elon Musk has done so. Even before Elon Musk named his X profile Kekius Maximus Thi was and made a picture of a frog meme character his profile photo. Even at that time, the price of Kekius had a jump of up to 500%, due to which thousands of investors had hoped big expectations.
However, the very next day Musk removed the profile photo and name, causing resentment to the Crypto Community. Musk was criticized on social media and was described as part of the “Pump and Dump” scheme. Many users alleged that MUSK deliberately attracts people and increase the price of Meemkoin and then go out by booking profits themselves.
Is the same story being repeated this time?
Experts believe that this time the rally is also running on the same script. As soon as Musk’s name changed, the price of Kekius gained momentum, people started investing and the market cap of the token increased rapidly. Many crypto analysts say that such steps of influential persons like Musk affect investors emotionally, making them invest without research.
The atmosphere of fear and greed in the market
While some investors are considering this boom as an opportunity, some old users are cautious with this. The debate on the subject on social media has intensified whether the actions of Musk fall under the category of deliberate market manipulation. At the same time, some people are avoiding it as just a meme and joke.
Conclusion
Elon Musk’s social media activity has often affected the crypto market, but investors do not benefit from it every time. It is difficult to say how much the current rally of Kekius Coin will last. But it is so sure that a profile update of Musk can also bring tornado to the world of Crypto. Investors should do complete research before jumping into any trend and make investment decisions on facts instead of emotions.
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