Dealer trades 62B PEPE for Kekius Maximus, faces drastic outcome

The trader’s bold choice to exchange 62 billion PEPE tokens, valued at $1.2 million, for 4.23 million Kekius Maximus (KEKIUS) tokens proved to be a significant lesson. The deal happened during a rise in KEKIUS’s value, but fortunes have changed dramatically since then.

A tweet from money guru Wise Advice states that Elon Musk’s decision to remove Kekius Maximus’ profile picture from X caused the market to drop 80%. The value of the token dropped from $400 million to just $80 million, leaving the trader with only $400,000 in possession.

Data from Dexscreener shows at the time of writing that KEKIUS is still showing significant selling pressure, and its market cap has recovered somewhat to around $98 million.

Elon Musk and the mystery behind Kekius Maximus

On December 31, 2024, Elon Musk changed his profile name and photo to match the meme-inspired identity, effectively assuming the persona of Kekius Maximus. Pepe the toad’s profile showed that he was fit for a gladiator, which many believed to be related to the character of Maximus Decimus Meridius from the movie “Gladiator”.

Although Musk without an official explanation, internet rumors have linked the name “Kekius” to “keko”, laughing slang in gaming circles, and to Keko, an ancient Egyptian deity who was sometimes depicted as a frog.

Adding to the mystery, some internet watchers speculate that Musk may be running an alter ego account on X under the name “Adrian Dittmann.” This narrative usually compliments Musk and talks about Keki Maksim. Musk denied these claims, writing them off as baseless.

Fascinatingly, Musk’s affinity for the gaming industry fueled the story even more. In a post alluding to the well-known game “Path of Exile 2”, he said, “Kekius Maximus will soon reach level 80 in hardcore PoE.” This remark suggested his personal hobbies and gave the assumption of the phenomenon of Kekius Maximus a light-hearted twist.

Musk’s profile modification has effects beyond KEKIUS. Other Pepe-toad-influenced meme coins saw significant price swings as the crypto community reacted fervently. This response highlights the great influence that Musk has on the crypto market, especially in the the same angle category.