Elon Musk made waves in the crypto market again as he changed his avatar on social platform X. This change sent Solana-based memecoin, Kekius Maximus (KEKIUS) into a downward spiral. The coin sank by around 90% after the tech mogul changed his avatar on the social media platform.

The world’s richest man’s new handle and avatar appear to refer to a cryptocurrency – but they both include references previously co-opted by the far right

Elon Musk's brief name change to "Kekius Maximus" on X sparked a massive surge in the Kekius Maximus memecoin, according to blockchain analytics firm Lookonchain. One trader turned a $66 Ether investment into a $3 million gain in just eighteen days.

Elon Musk adopted the moniker “Kekius Maximus” on X Tuesday, sparking speculation among his 210 million followers about his mysterious new handle that is a mash-up of an alt-right symbol, a memecoin,