Analysis: Musk's X "Rebranding" Sparks Continuous Market Speculation

ChainCatcher news, according to Jinshi reports, on Tuesday local time, Tesla CEO Elon Musk changed his account name on the social media platform "X" to "Kekius Maximus," which sparked speculation among his 210 million followers about the meaning of his mysterious new name.

This new name appears to be a mix of alt-right symbols, memes, and the name of the protagonist from the movie "Gladiator." He also changed his profile picture to "Pepe the Frog," a popular cartoon character dressed in ancient Roman attire, holding a video game controller.

Musk did not provide any explanation for the new username and profile picture, but the move immediately triggered a chain reaction, causing the value of the similarly named meme token to soar. The price of Kekius M (KM) on the Solana chain surged over 12,600% at one point, with its market cap briefly exceeding $45 million.