Elon Musk’s ‘Kekius Maximus’ Persona fuels a 900% crypto pump

Elon Musk, CEO of Tesla and SpaceX, has stirred the internet by changing his handle on X (formerly Twitter) to “Kekius Maximus.” The alteration, made on Tuesday, caught the attention of his 210 million followers, generating a wave of speculation across the platform. Musk did not provide an explanation for the change, but his new handle and profile image have sent ripples across both social media and cryptocurrency spaces.

Musk's new handle combines "Kekius," an apparent twist on the internet slang "kek," with "Maximus," the name of the heroic Roman general from the film Gladiator. Alongside this, his profile image was altered to show “Pepe the Frog” in Roman military attire, holding a video game joystick. This combination of symbols quickly raised eyebrows, triggering various interpretations of Musk's intentions.

The name “Kekius Maximus” appears to draw from multiple cultural and internet sources. "Kek" is widely recognised as a variation of "LOL" (laugh out loud) that gained popularity among internet trolls and alt-right groups. The Southern Poverty Law Center described "Kek" as referring to a "virtual white nationalist god" and noted its use by far-right groups, such as Identity Evropa. Furthermore, “Maximus” refers to Maximus Decimus Meridius, the general played by Russell Crowe in Gladiator. The blend of these two terms, along with the use of Pepe the Frog, raised concerns about the symbolism Musk was adopting.

Pepe the Frog, a character originally from the comic series Boy’s Club, has become notorious for its association with far-right groups, particularly during the 2016 U.S. presidential campaign. While the meme was originally harmless, it later became associated with white supremacy and hate speech. The Anti-Defamation League(ADL) classified it as a “hate symbol,” although they acknowledged that the majority of Pepe memes continue to be non-bigoted. As the meme spread, it became tied to “racist, antisemitic, or other bigoted themes,” the ADL added. Musk’s adoption of Pepe in his profile picture only added to the controversy, prompting many to question whether this was a deliberate nod to extremist online culture.

Crypto Market Reaction and Speculation

Musk’s name change also had an immediate impact on the cryptocurrency world. The value of the memecoin “Kekius Maximus,” a digital currency inspired by internet memes, soared by more than 900% after Musk's alteration of his X profile. The memecoin was trading at under 20 cents at the time of the change, and its value skyrocketed in a matter of hours. However, it remains unclear whether Musk has any involvement with this specific memecoin or if the surge was purely coincidental.