A frog-themed memecoin is up massively after billionaire Elon Musk changed his username on the social media platform X.

According to Musk’s X profile, his name has been changed to “Kekius Maximus,” a vague reference to the frog-headed Egyptian god Kek, whose name has been used to convey laughter by gamers and internet users.

Kek has also been associated with Pepe the Frog, a cartoon character who inspired the $8.1 billion market cap memecoin PEPE.

The Tesla CEO’s abrupt name change led to a staggering surge for Kekius Maximus (KEKIUS), an Ethereum-based frog-themed altcoin, which skyrocketed by over 32,000%, going from $0.00123 on December 30 to a peak of $0.40 on January 1st.

The meme asset has since retraced and is trading for $0.264 at time of writing while its market cap burgeoned to over $250 million.

Musk – a longtime proponent of meme assets such as Dogecoin (DOGE) – did not specify a reason for changing his handle on X.

The business magnate, who will soon be President-elect Donald Trump’s head of the “Department of Government Efficiency” DOGE, was once accused of manipulating the price of DOGE via a pump-and-dump scheme. However, that lawsuit was dropped last November.

The judge in the case ruled that Musk’s previous comments toward Dogecoin – which included him saying that it might become the standard for a global financial system and the currency of the internet – were “aspirational and puffery, not factual and susceptible to being falsified,” and thus could not be the basis for a lawsuit.

 

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Cardano (ADA) struggled as one of 2024’s worst–performing major cryptocurrencies, losing over 30% of its value year-to-date through October. However, November brought a quick positive turnaround, with ADA recouping roughly six months of losses in just seven days.

Now, a popular analyst is outlining a potential path for Cardano, predicting that the cryptocurrency could be on the cusp of a significant upward movement in the coming days.

ADA Signals Impressive Rally Next Year

After explosive price rallies earlier this month that stunned market observers, 

the crypto market experienced a steep downturn in recent weeks fueled by the U.S. Federal Reserve’s hawkishness.

ADA, specifically, fell by over 40% from its local high of $1.33 to as low as $0.7620. However, one long-time trader and analyst in the crypto industry is leaning bullish on Cardano despite the drop below the critical $1 level.

Michaël Van de Poppe has suggested that the current market correction may be nearing its end, setting the foundation for a parabolic bullish phase for the token.

“I think we’re getting towards the end of this correction, through which I’m expecting a new leg up for things like ADA,” Van de Poppe wrote in a Dec. 30 post on X.

In the accompanying chart, van de Poppe noted that ADA’s bullish run from lows of $0.3260 at the start of November 2024 to highs of $1.3264 in early December 2024 was likely the “first wave upwards” for the ADA cryptocurrency.

The expert expects Ethereum rival Cardano to smash past its current lifetime high price point of $3.09 sometime in 2025 or 2026.

ADA is trading for $0.8724 at the time of writing, a 1.1% increase during the last day, according to CoinGecko data.

As the crypto asset battles to gain a foothold above the $1 mark, traders and analysts alike are closely watching its performance. A breakout above this psychological barrier could embolden the bulls, paving the way for further gains, potentially reaching $1.24 and ultimately $3.