A savvy cryptocurrency trader generated a staggering return of 45,906x by capitalizing on a fleeting trend linked to Elon Musk\u2019s brief name change on X.<\/p>\n
Blockchain analytics firm Lookonchain reported that the trader invested 0.017 Ether (approximately $66) to acquire 10.17 million Kekius Maximus (KEKIUS) meme coins on December 14. Over the next 18 days, the trader sold 2.81 million KEKIUS for 60.3 Ether, or $201,000, while retaining 7.37 million KEKIUS, worth around $2.85 million.<\/p>\n
The total profit amounted to a whopping $3.05 million, according to Lookonchain\u2019s update<\/a>.<\/p>\n The meteoric rise of KEKIUS is attributed to Musk temporarily adopting<\/a> the name \u201cKekius Maximus\u201d and changing his profile picture to Pepe the Frog clad in Gladiator-style armor. The reference combines the internet meme Pepe with Maximus Decimus Meridius, the protagonist of the 2000 film Gladiator.<\/p>\n KEKIUS, created on December 13, saw its market capitalization surge from $11.4 million to a peak of $389 million on January 1, as per data<\/a> compiled by CoinGecko. Despite a subsequent decline to $145 million, the token\u2019s rise highlights the unpredictable nature of meme coins often driven by cultural phenomena.<\/p>\n In a related development, Lookonchain also revealed<\/a> that another pseudonymous trader, known as rektdolphin.eth, made a bold move by exchanging their entire holding of 62 billion PEPE tokens \u2013 which was nearly $1.2 million \u2013 for 4.23 million KEKIUS tokens. However, this backfired as the investment turned sour after their holding plummeted to $290,000 just 12 hours later.<\/p>\n An on-chain analyst had previously\u00a0issued<\/a> a warning to investors caught up in the KEKIUS frenzy, citing the speculative nature of the meme coin\u2019s rally.\u00a0Instead, the analyst advised traders to stick with more established tokens like PEPE.<\/p>\n \u201cFor anyone that\u2019s buying Kekius Maximus memecoins. Whenever Elon changes his PFP and name back, you\u2019re gonna get fucked. Just stick to $PEPE.\u201d<\/p>\n The post Trader Turns $66 Into $3.05M Amid KEKIUS Meme Coin Frenzy<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A savvy cryptocurrency trader generated a staggering return of 45,906x by capitalizing on a fleeting trend linked to Elon Musk\u2019s brief name change on X. Blockchain analytics firm Lookonchain reported that the trader invested 0.017 Ether (approximately $66) to acquire 10.17 million Kekius Maximus (KEKIUS) meme coins on December 14. Over the next 18 days, […]<\/p>\n","protected":false},"author":0,"featured_media":32713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-32712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32712"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32712"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/32713"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}