Tesla Inc. CEO Elon Musk changed his name on his social media platform, X, to "Kekius Maximus" (CRYPTO: KEKIUS). He also changed his profile picture to that of "Pepe the Frog" as the year 2024 draws to a close.

What Happened: Musk changing his name on X to Kekius Maximus sent the memecoin of the same name soaring more than 600% over the past 24 hours, according to data from Benzinga Pro.

Musk changing his profile picture to Pepe (CRYPTO: PEPE) also sent the coin soaring – it was up by more than 7% at the time of writing.

This is not the first time Musk has changed his profile picture or name to that of a memecoin.

Dogecoin (CRYPTO: DOGE), a well-known meme coin, has often been a favorite of Musk. On several occasions, Musk has embraced memes by changing his profile name or picture. He once updated the display picture of Twitter's (now X) official account to feature a Shiba Inu dog, the iconic symbol of Dogecoin.

Benzinga Note: Investing in meme coins and cryptocurrencies is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading. Prices can be extremely volatile, and you may lose your entire investment. Always conduct thorough research, assess your risk tolerance, and consult with a financial advisor before investing in cryptocurrencies or meme coins.

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