Elon Musk up to date his profile on X, altering his nickname and including a Pepe the Frog meme picture. This precipitated an increase within the worth of the eponymous meme coin PEPE on the cryptocurrency market.

Billionaire Elon Musk lately modified his nickname on his social platform X to "Kekius Maximus". This precipitated a stir within the cryptocurrency market, writes UNN referring to the BBC.

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Elon Musk didn’t present any rationalization for the change of nickname or the brand new profile image, which depicts the Pepe the Frog meme character – a meme utilized by far-right teams.

This transfer by the billionaire precipitated a stir within the cryptocurrency world, resulting in a pointy rise within the worth of the eponymous meme coin – a digital forex impressed by web memes, which has the identical title.

The PEPE meme, initially created by artist Matt Furie, has undergone a cultural evolution, turning into the idea of web humor and some extent of unity for varied on-line communities. In 2023, the PEPE meme coin emerged as a decentralized cryptocurrency impressed by the meme, shortly gaining recognition amongst buyers searching for to copy the success of different meme cash like Dogecoin and Shiba Inu.

After Musk modified his profile image, the meme coin started to rise.

Beforehand, Musk had influenced cryptocurrency costs together with his feedback on social media, but it surely was unclear whether or not he had any connection to this specific meme coin.

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"Kekius" is derived from "kek", which roughly means "to giggle loudly", a phrase usually used amongst players, however now usually related to the far-right.

"Kek" can also be the title of the traditional Egyptian god of darkness, typically depicted with a frog's head.

Many affiliate "Maximus" with the title of Russell Crowe's character within the movie "Gladiator" – Maximus Decimus Meridius.

Musk's new profile image depicts Pepe in Roman navy apparel holding a gaming console.