The Kekius Maximus token maintained its impressive upward trajectory on January 1, positioning itself as the leading cryptocurrency in the market as accumulation efforts persisted.

The price of Kekius Maximus (KEKIUS) surged by more than 200%, reaching a peak of $0.4010, which elevated its market capitalization to over $332 million.

This price increase was sparked by Elon Musk’s change of his X profile name and picture to Kekius Maximus, which prompted heightened buying activity among traders.

There are indications that some cryptocurrency investors expect the token to continue its ascent over the coming weeks. One whale traded 62 billion worth of Pepe (PEPE) tokens valued at $1.2 million for Kekius tokens.

Numerous large buyers have engaged in similar transactions. As illustrated below, there were more than 10 trades exceeding $425,000 in the past 24 hours.

Investors are buying Kekius Maximus
Investors are buying Kekius Maximus | Source: Nansen

Investors are attracted to the Kekius Maximus token due to Elon Musk’s significant influence in various domains. Socially, he is one of the most followed individuals globally, boasting over 200 million followers on X.

Economically, with a net worth of $450 billion, he stands as the richest person on the planet, largely due to his ventures such as SpaceX, Tesla, X, and Xai. Politically, he has a close relationship with incoming president Donald Trump.

Elon Musk has previously endorsed meme coins, most notably Dogecoin (DOGE), which has grown into a $50 billion titan in the cryptocurrency market.

Kekius Maximus price may decline soon

The rise of KEKIUS reflects trends seen in other recently launched and popular meme coins. For instance, the price of Moo Deng (MOODENG) skyrocketed from $0.02 in September to $0.7023 as excitement mounted, but it has since dropped by 62% since its peak in November.

Likewise, the price of Peanut the Squirrel (PNUT) surged to $2.5 in November but has fallen by 72% since. The Goatseus Maximus (GOAT) token has also plummeted by over 60% from its all-time high, leaving many fear-of-missing-out traders holding onto depreciating assets.

Therefore, although there is a possibility that the KEKIUS price will keep climbing in the immediate future as more exchanges list it—now available on MEXC, Uniswap, and BingX—there remains a risk of it mimicking the behaviors of other recently launched meme coins in the longer term.

Disclosure: This article does not constitute investment advice. The content and materials presented on this page are intended for educational purposes only.