Elon Musk's new X nickname "Cæcus Maximus" has caused a stir in the crypto market

Billionaire Elon Musk recently changed his nickname on his social platform X to "Kekius Maximus". This caused a stir in the cryptocurrency market, writes UNN referring to the BBC.

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Elon Musk did not provide any explanation for the change of nickname or the new profile picture, which depicts the Pepe the Frog meme character - a meme used by far-right groups.

This move by the billionaire caused a stir in the cryptocurrency world, leading to a sharp rise in the value of the eponymous meme coin - a digital currency inspired by internet memes, which has the same name.

The PEPE meme, originally created by artist Matt Furie, has undergone a cultural evolution, becoming the basis of internet humor and a point of unity for various online communities. In 2023, the PEPE meme coin emerged as a decentralized cryptocurrency inspired by the meme, quickly gaining popularity among investors seeking to replicate the success of other meme coins like Dogecoin and Shiba Inu.

After Musk changed his profile picture, the meme coin began to rise.

Previously, Musk had influenced cryptocurrency prices with his comments on social media, but it was unclear whether he had any connection to this particular meme coin.

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"Kekius" is derived from "kek", which roughly means "to laugh loudly", a word often used among gamers, but now often associated with the far-right.

"Kek" is also the name of the ancient Egyptian god of darkness, sometimes depicted with a frog's head.

Many associate "Maximus" with the name of Russell Crowe's character in the film "Gladiator" - Maximus Decimus Meridius.

Musk's new profile picture depicts Pepe in Roman military attire holding a gaming console.