The price of Kekius Maximus surged to its highest point in four months after Elon Musk changed his profile page on X. The KEKIUS token hit $0.06350, increasing by over 415% from its lowest point this year, resulting in a market cap exceeding $50 million.
Why Kekius Maximus Price Surged
The KEKIUS token price surged after Elon Musk changed his X page username to Kekius Maximus as he did a few months ago. Musk is highly influential due to his track record in entrepreneurship and his status as the world’s wealthiest man, with a net worth of over $381 billion.
Kekius Maximus is a term derived from the words Kek and maximus. Kek comes from the World of Warcraft and is common in internet trolling. Maximus is a Latin word meaning something grand or ultimate. Combined, Kekius Maximus means the ultimate meme lord.
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The Kekius Maximus token is, therefore, just a meme coin with no intrinsic value. It normally derives its value from X posts by Musk, which explains why it surged to a record high of $0.3978 in January when he initially changed his X name.
The risk of buying the KEKIUS token is that Musk is known for changing his X name several times. Thus, the token price is likely to experience a harsh reversal if this occurs.
KEKIUS Price Technical Analysis
The daily chart indicates that the KEKIUS token price has been in a consolidation phase since February. This consolidation happened since Musk removed Kekius Maximus as his X name.
According to the Wyckoff Theory, the coin has been in the accumulation phase, which is marked by tight consolidation. This phase is typically followed by the markup, where the price normally surges.
The surge also occurred after the Bollinger Bands experienced a long period of consolidation, leading to a squeeze.
Therefore, the most likely scenario is that the KEKIUS price will slip and retest the support at $0.03730 as the hype from Musk’s name change diminishes.
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