Trader turns $66 into $3.05M in KEKIUS meme coin frenzy

A cryptocurrency trader turned a $66 investment into $3.05 million by riding the wave of the KEKIUS (CRYPTO:KEKIUS) meme coin frenzy, driven by Elon Musk’s temporary name change on social media.  

The trader made a 45,906x return, capitalising on the brief surge in interest surrounding KEKIUS.  

On December 14, the trader purchased 10.17 million KEKIUS coins using 0.017 Ether (CRYPTO:ETH), worth around $66 at the time.  

Over the next 18 days, they sold 2.81 million KEKIUS for 60.3 Ether, or $201,000, while retaining 7.37 million KEKIUS coins valued at about $2.85 million.  

This generated a total profit of $3.05 million, according to blockchain analytics firm Lookonchain.  

The KEKIUS token, launched on December 13, gained attention after Elon Musk briefly changed his name on social media to "Kekius Maximus" and adopted a profile picture of Pepe the Frog in gladiator armor.  

The meme combined elements of internet culture and the popular film "Gladiator," boosting the coin’s appeal.  

KEKIUS saw its market capitalisation skyrocket from $11.4 million to $389 million by January 1, before correcting to $145 million.  

This extreme volatility reflects the unpredictable nature of meme coins, which are often driven by cultural trends and social media events.  

While some traders made significant gains, others experienced losses.  

One pseudonymous trader, known as rektdolphin.eth, swapped 62 billion PEPE (CRYPTO:PEPE) tokens for 4.23 million KEKIUS coins, only to see their investment drop to $290,000 in a matter of hours.  

An on-chain analyst had previously warned against getting caught up in the KEKIUS hype, advising traders to stick with more stable tokens like PEPE.  

"Whenever Elon changes his PFP and name back, you’re gonna get fucked," the analyst said, cautioning investors about the speculative nature of meme coin investments.  

At the time of reporting, the Kekius Maximus (KEKIUS) price was $0.1424.