Elon Musk’s decision to adopt the Kekius Maximus persona on X on December 31 sparked a dramatic rally for the corresponding meme coin, with the ERC-20 token surging 21,660%, according to CoinGecko.

Brothers in Arms pic.twitter.com/vIZ8ADrXbo

— Kekius Maximus (@elonmusk) December 31, 2024

While multiple Kekius-themed meme coins emerged on Solana, the ERC-20 token Kekius Maximus ($KEKIUS) attracted the majority of investor attention.

CoinGecko data revealed the token’s rise, with its market capitalization reaching $343.67 million and 24-hour trading volumes climbing to $219.27 million, representing approximately 64% of the token’s aggregated value.

Over 22,000 wallets currently hold $KEKIUS, highlighting its widespread adoption among investors.

Kekius Maximus Gains Highlight Meme Coin Frenzy

The demand for $KEKIUS remained strong despite its initial climb, with 24-hour gains standing at 110.67%.

Although Musk has not revealed any direct affiliation with these meme coins, his adoption of the Kekius character has fueled widespread attention.

The origins of this meme can be traced back to @ALX on X, who first shared AI-generated images of multiple characters inspired by the Pepe the Frog cartoon.

Kekius Maximus pic.twitter.com/ZLPP0dkmgX

— ALX (@alx) December 10, 2024

The frenzy surrounding $KEKIUS also coincided with a noticeable spike in Ethereum gas prices.

Data from Etherscan.io showed that on December 31, average gas fees doubled from 5 gwei to 10 gwei, before recently declining to 8 gwei.

This surge indicates heightened activity on the Ethereum network, possibly driven by transactions involving $KEKIUS and other related meme coins.

Kekius Maximus ($KEKIUS) Momentum Slows as RSI Weakens

Despite its impressive gains, $KEKIUS appears to be losing momentum. Uniswap charts expressed in $WETH reveal that the token hit a peak four hours ago before beginning a steady decline.

Early buyers are cashing out their massive gains, contributing to a fading uptrend.

Technical indicators like the Relative Strength Index (RSI) have made lower highs on the hourly chart, signaling weakening momentum despite continued price increases.

Investors should exercise caution, as these signals suggest the potential for a larger take-profit move by those who entered long positions earlier.

For those looking to buy $KEKIUS, it’s critical to verify the token’s contract address to avoid scams.

The proliferation of meme coins—thanks to easy minting protocols like Pump.fun or Solana’s soon-to-be-released Pump Pad—makes identifying legitimate projects increasingly difficult for novice traders.

The success of Kekius Maximus has reinvigorated interest in other Pepe-themed assets such as the OG Pepe ($PEPE), Pepe Unchained ($PEPU), and Wall Street Pepe ($WEPE).

These tokens may benefit from the growing popularity of the Kekius meme and its associated coins.

Flockerz Presale Brings in $8.4M and Introduces a New Standard for Meme Coins

Meme coin projects are proliferating rapidly, but most of them lack the power to build robust communities that can withstand the turmoil that crypto markets experience from time to time.

The most successful projects like Dogecoin ($DOGE) and Shiba Inu ($SHIB) have something in common – their fan base is highly engaged and participates regularly on every event and decision made.

Flockerz introduces a novel mechanism called vote-to-earn (V2E) that incentivizes holders to cast votes and contribute actively to the community by endorsing proposals.

POV: You are entering 2025 with The Flock! pic.twitter.com/rjtpchN4CP

— Flockerz (@FlockerzToken) December 31, 2024

To ensure their support, token holders are rewarded in $FLOCK for every vote they cast.

Investors have been supporting this innovative approach from the get-go as the $FLOCK presale has raised $8.4 million in just a couple of weeks.

The token is currently offered at a discounted price of $0.0065823 that positions investors favorably to generate high returns once the asset is listed.

The presale will be active for 20 more days. Once the project goes live, Flockerz will change how meme coin projects build highly engaged communities with a deep sense of belonging.

To buy $FLOCK, go to the Flockerz website and connect your wallet to convert USDT or ETH.

In addition, you can use a bank card in case you don’t own any crypto at the moment.

The time is now to make the most out of the meme coin hype. Don’t wait any longer to become a part of the $FLOCK.

The post Kekius Maximus Explodes 21,660% After Elon Musk’s X Post appeared first on Cryptonews.

The UK’s Financial Conduct Authority (FCA) is stuck in a battle it doesn’t seem to be winning. Between October 2023 and October 2024, the watchdog flagged 1,702 illegal crypto ads, apps, and websites. Yet only 54% of these vanished from the internet.

That leaves nearly half of these banned promotions still live and luring unsuspecting victims. Despite new powers to fine or prosecute rule-breakers, the FCA hasn’t pulled the trigger on a single company.

The rules are straightforward: crypto ads must be approved by the FCA or an authorized firm before they go online. If not, companies face promises of “robust” action. So far, those promises are looking pretty hollow.

The FCA’s focus turns to influencers, not companies

Rather than targeting big crypto firms, the FCA has zeroed in on social media influencers—dubbed “finfluencers.” These individuals hype up crypto schemes to millions of followers, often without disclosing the risks.

In one criminal case, nine people were charged for promoting an unauthorized investment tied to high-risk derivatives. The cast reportedly included stars from Love Island and The Only Way Is Essex.

That’s not all. In October, the FCA announced it was interviewing another 20 finfluencers under caution for pushing illegal financial products.

These interrogations follow new rules rolled out in March, tightening oversight of social media promotions. The regulator managed to file criminal charges against influencers just two months after introducing the rules.

But while influencers feel the heat, crypto companies are skating by untouched. Prosecuting them, it seems, is more complicated.

Platforms let banned ads stay up with no penalties

Here’s the thing: the FCA can’t legally force tech platforms to take down unapproved crypto ads. It’s all about voluntary cooperation. Companies like Google, Meta, and Microsoft’s Bing have agreed to block unapproved financial ads.

But these are handshakes, not legally binding commitments. And half the time, the ads just don’t disappear. This voluntary system leaves the FCA negotiating in good faith with tech giants while crypto scammers run amok.

Crypto companies and exchanges know the FCA’s hands are tied. The regulator might talk tough, but its enforcement powers are limited. This is especially true when it comes to online platforms hosting fraudulent ads.

The financial sector, meanwhile, is growing frustrated. And social media platforms are seen as complicit, allowing scams to thrive on their watch.

The UK and crypto

Bitcoin’s UK debut in 2013 was modest. Back then, only a few startups and enthusiasts saw its potential. By 2014, the UK Treasury was starting to take notice, publishing reports about “digital currencies” and hinting at the need for regulations.

But it wasn’t until 2017 that things started heating up. The FCA began warning the public about the risks of investing in crypto. By 2018, the regulator had rolled out anti-money laundering rules for crypto exchanges. This was the first real attempt to tighten the screws.

The next year, the government launched consultations, asking industry leaders how to tame the beast while keeping the innovation alive. The FCA then banned crypto derivatives for retail investors in 2020. The risks, they said, outweighed the rewards.

Things got more serious in 2021. They demanded that all crypto companies register with them to keep operating legally. But compliance was no cakewalk, and many companies couldn’t make the cut. Meanwhile, the UK government started toying with the idea of a central bank digital currency (CBDC).

Fast forward to 2022, and Bitcoin and Ethereum were tanking. Then came the big blow—the FTX collapse. It has been a long and painful road to redeem itself, but thanks to the launch of ETFs and President Donald Trump, the crypto market has never been better.

Bitcoin literally broke seven all-time highs last year, letting off at around $108,400. As of press time, it was worth $93,772, in a market correction expected to last until the Inauguration on January 20th.

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