When Elon Musk "Plays Meme": The 30-Hour Boom and Crash of KEKIUS

No one can deny that Elon Musk possesses a unique influence in the cryptocurrency market — just a comment, a personal profile update, or even a simple meme can cause waves within the crypto community. The KEKIUS incident is the clearest example of this “Elon effect”: an ordinary meme coin unexpectedly becomes a phenomenon, only to crash into a disastrous state in less than two days.

The Beginning of a Meme: KEKIUS Rises from Nothing

It all started quite normally. KEKIUS Maximus — a meme coin launched on Ethereum in late December with a modest market cap of just $1.7 million. However, this character has a special connection to Pepe — a globally beloved meme icon, depicted through Musk’s AI tool Grok as a powerful emperor.

The turning point came when Tesla’s CEO decided to change his Twitter name to “Kekius Maximus” and set this meme image as his profile picture. This move seemed lighthearted, but for the meme coin community, it was a bright green signal. Musk also revealed that his character from the game “Path of Exile” would share a similar name, adding to the legend of this event.

New Year’s Eve Brightness: KEKIUS Surges 3000% in 30 Hours

On the night before the New Year holiday, as people celebrated with drinks, meme coin investors watched their stocks skyrocket. KEKIUS experienced an unprecedented jump: from a modest valuation of a few million dollars, it soared to $400 million in just 30 hours — a 3000% increase.

This phenomenon sparked a huge frenzy. Capital flooded into KEKIUS from everywhere, with major investors jumping in to “dive into” the trend. The meme coin’s price kept hitting new highs every hour, making early buyers feel like investment geniuses. Forums and KEKIUS supporter groups grew rapidly, each adding to the excitement with hopes that the story would continue climbing.

The Downfall: From Glory to Collapse

However, crypto history is full of unpredictable ups and downs. On the morning of January 1, an unforeseen event occurred: a Tesla Cybertruck exploded outside the Trump Hotel in Las Vegas. The explosion claimed the driver’s life and caused shockwaves across the US and worldwide.

Elon Musk quickly refocused attention on real issues. He updated his Twitter profile back to normal and began investigating the incident. Tesla reports indicated that the explosion was caused by fireworks or an explosive device carried in the vehicle, not the vehicle itself. But that didn’t matter to the meme coin market at that moment.

Musk’s attention shifted elsewhere. KEKIUS was no longer mentioned. And that was the psychological blow KEKIUS investors couldn’t withstand.

Catastrophic Decline: Free Fall of 67%, Then Down Another 83%

When Elon Musk stopped “playing” with this meme, the market reacted immediately. Within a few hours, KEKIUS’s value plummeted 67%, from a peak of $400 million down to just $95 million. But that was only the beginning of the disaster.

Over the next 10 hours, the coin continued to lose value, dropping another 83%. At this point, those who bought at the peak faced nearly 95% losses — a catastrophic level few investors could accept.

Meme coin forums suddenly shifted from cheers to tears. Latecomers or those who bought at the top were completely “cooked.” FOMO (fear of missing out) easily turned into FUD (fear, uncertainty, doubt).

Lesson Learned: The Elon Musk Effect on Meme Coins Is a Double-Edged Sword

The KEKIUS story helps us understand the dual nature of the “Elon Musk effect” in the meme coin space. On one hand, confirmation from a global billionaire with millions of followers can trigger a boom in a mediocre coin’s value. On the other hand, this attention is highly unstable and can vanish in an instant.

Investors often get caught in a dangerous psychological cycle: they see a meme coin “played” by Elon Musk, experience FOMO, hope the story continues, but then Musk shifts focus elsewhere — perhaps to a social issue, a political event, or simply gets bored. When the person in power loses interest, the meme coin’s value crashes accordingly.

Current Status: KEKIUS Still Exists but Its Fate Is Sealed

As of mid-February 2026, KEKIUS still exists in the crypto market, trading at around $0.01 with a market cap of approximately $5.16 million — close to its initial level, but its history has left a deep mark on the crypto community.

The KEKIUS event serves as a clear warning to those wanting to “ride the meme coin wave”: don’t see endorsements from famous figures as a guarantee of long-term value. Elon Musk can create huge opportunities, but he can also cause significant losses. In the world of meme coins, a boom and bust are just one tweet apart.