Elon Musk’s New Alias Nets Trader $634,000 Profit

On December 31, Elon Musk updated his name on X to Kekius Maximus, becoming a mascot for the creation of dozens of meme tokens. Some of these were launched two weeks prior, when the billionaire first posted the phrase in comments on Autism Capital.

One trader managed to profit from this, according to analysts at Lookonchain.

What a lucky trader—or perhaps an insider!

9 hours ago, he spent $4,360 to buy 18.15M $KM.

Just one hour ago, @elonmusk changed his profile name to “Kekius Maximus,” sending the price of $KM soaring by ~17,000%.

The 18.15M $KM he bought is now worth $638K!… pic.twitter.com/FcYiYaD2wS

— Lookonchain (@lookonchain) December 31, 2024

He spent $4,360 to purchase 18.15 million KM. Immediately after Elon Musk’s name change, the price of KM skyrocketed by approximately 17,000%. His coins are now worth $638,000.

Analysts did not rule out the possibility of insider trading.

Earlier in January, a trader earned $1 million from the TROLL token after Elon Musk changed his X-account signature to (CTO) Chief Troll Officer.