How Elon Musk Launched a Wave of Meme Coins That Shook the Crypto Market

Elon Musk’s activity on the social network X continues to have a huge impact on the cryptocurrency market. This time, Tesla’s CEO made two high-profile moves: updating his avatar and changing his profile name, provoking a strong response from investors and meme coin traders.

Frog PEPE: How One Meme Became a Market Catalyst

Elon Musk’s avatar update drew the attention of the entire crypto market. Instead of a standard photo, Musk chose an image of the “Frog PEPE” meme — a popular internet symbol. This simple action had enormous consequences for the eponymous meme coin. PEPE immediately responded to the attention of the well-known entrepreneur: within 24 hours, the coin increased by 3.54%, reaching $0.00. The trading volume during this period was $6.08 million, indicating active market interest.

The key factor in the growth was a massive influx of capital. In just a few hours, $1 billion flowed into the meme coin, allowing PEPE to rebound from its lows. This market reaction confirms a simple truth: in the social media era, the influence of a prominent leader can be stronger than any fundamental analysis.

KEKIUS Maximus: The New Player on the Crypto Scene

Along with changing his avatar, Elon Musk also renamed his profile on X — now it reads “Kekius Maximus.” Interestingly, this nickname is directly linked to another meme coin — KEKIUS (Kekius Maximus). The profile avatar depicts a frog holding a joystick, reflecting Musk’s passion for video games and internet culture.

Although the KEKIUS coin is a relatively new project, it has already attracted the attention of speculators. Currently, the token price is $0.01, but over the past week, the cryptocurrency has lost 14.21% of its value. The project is traded exclusively on decentralized exchanges, making it a more volatile and risky asset. Despite the recent dip, KEKIUS’s history highlights the enormous potential of meme coins to attract speculative capital.

D.O.G.E: From Meme to Government Policy

Elon Musk’s interest in meme culture extends beyond the crypto market. Recently, U.S. President Donald Trump appointed Musk as head of the Department of Government Efficiency (D.O.G.E) — a new government agency created during his administration. Notably, the acronym D.O.G.E. echoes the popular meme coin Dogecoin, further emphasizing Musk’s connection to internet memes.

As head of D.O.G.E., Musk shares responsibility with Vivek Ramaswamy, known as Trump’s chief cryptocurrency advisor. The ambitious goal of this agency is to save $2 trillion in government spending, addressing the main deficit of the U.S. federal budget for 2024. Achieving this will require radical measures: a plan to cut government personnel by 75%, which could lead to widespread layoffs across federal agencies.

Conflict with Berlin: Musk’s Political Activity Sparks Sharp Reaction

Elon Musk’s political activities go beyond domestic U.S. issues. Recently, Musk became embroiled in an international scandal over interference in Germany’s internal affairs. The German government accused the American entrepreneur of attempting to influence the upcoming elections scheduled for February.

The criticism was triggered by a column Musk published, in which he explicitly expressed support for the Alternative for Germany (AfD) party. In his text, Musk made a straightforward statement: “Only AfD can save Germany.” This open stance drew a strong rebuke from German Chancellor Olaf Scholz, who firmly rejected the billionaire’s viewpoint.

The scandal had serious consequences for German media: the chief editor of Welt am Sonntag was forced to resign in protest against Musk’s position and the decision to publish his material. This incident demonstrates how Musk’s influence extends far beyond business and technology, affecting the political sphere of various countries.

Thus, Elon Musk continues to be one of the most influential figures, whose actions — from simple avatar updates to political statements — have real impacts on global events, whether in the crypto market or international politics.