Name Change on X Platform: On December 31, 2024, Musk updated his profile name on X (formerly Twitter) to "Kekius Maximus" and changed his avatar to an image of Pepe the Frog in gladiator armor. This move led to a substantial increase in the value of the meme-inspired cryptocurrency token "Kekius Maximus," with reports indicating a surge of 500-800% within 24 hours.
Trader's Significant Gain: A cryptocurrency trader who invested $66 in the Kekius Maximus (KEKIUS) token on December 14, 2024, experienced a remarkable profit, with the investment growing to approximately $3 million in just 18 days, largely attributed to Musk's profile update.
Department of Government Efficiency (DOGE): In November 2024, President-elect Donald Trump announced the creation of the Department of Government Efficiency (DOGE), to be led by Elon Musk and Vivek Ramaswamy. This initiative aims to reduce government waste and has garnered bipartisan attention. The acronym's similarity to the cryptocurrency Dogecoin led to a notable increase in Dogecoin's value following the announcement.
X Platform's Future Payment Integration: Linda Yaccarino, CEO of X, has indicated plans to introduce payment functionalities to the platform in 2025. While specific details are pending, there is speculation about potential integration of cryptocurrency payments, given Musk's known interest in digital currencies.
These developments underscore Musk's continued influence on cryptocurrency markets and his engagement with internet meme culture.
