Quick Summary:
KEKIUS memecoin rallies 142 percent in a day
Kekius memecoin is soaring higher after increasing by 142 percent in a day.
The price reaches 0.063 and settles at 0.0466 with a 77 percent increase since the rally started.
The volume of trading increased more than 500 percent to 50 million dollars.
Elon Musk restored his X profile to name it Kekius Maximus again.
Memecoin market is growing too, and DOGE and SHIB are gaining their positions.
The market cap of memecoins is very high as it amounted to almost $69 billion.
The profile tweak by Musk contributes to the KEKIUS Rally with a very simple trick.
Elon Musk, CEO of Tesla and owner of X (formerly Twitter) changed his X name to Kekius Maximus, stirring up interest in the frog-themed memecoin of the same name, Kekius Maximus (KEKIUS). This minor adjustment became a rocket to the price of KEKIUS, experiencing a surge of 142 percent in just 24 hours, as it has been the case every time Musk has communicated with the crypto world in the past.
Momentarily the price of the token hit 0.063, a sharp increase compared to the monthly average of 0.025. Although the token is now stabilizing at a price of about 0.0466, it is yet an indication that there is 77 percent growth since the rally started.
CoinMarketCap.com
Trading spikes after move by Musk
KEKIUS experienced a 500% trading volume and its overall volume reached over the mark of 50 million dollars in hours. Although it is not visible in the ranking of the best memecoins to consider this month, Musk’s surprise update brought KEKIUS back into the spotlight of investors and cryptocurrency users.
This is not the first time this has been done by Musk to shock the crypto market. Going back to his initial support of Dogecoin all the way to changing his X icon to the DOGE logo in 2021, Musk has proven time and time again that he can increase and direct attention and prices with merely a post or an update.
The Broad Momentum in Memecoin Market
Memecoins are slowly recovering, as well. Dogecoin is set to enter into a supercycle, and Shiba Inu experienced a 1.09 percent increase within the past 24 hours. Memecoins now have a $69 billion total market cap, which indicates that there might be a change in the mood of investors.
Final Thoughts
We are still unsure whether KEKIUS can continue this trend or not but one aspect that is clear is that Elon Musk still has the ability to work on the markets. His continuing influence was enough to affect the crypto narrative more and more, be it a tweet, or a meme, or, in this instance, an update to a profile name.
Disclaimer: The given article is not a financial advice, but a source of information. Never invest without conducting research on your part on cryptocurrency.