How Elon Musk Memes Shook the Crypto Market: Two Coins in the Spotlight

Tesla CEO Elon Musk has once again demonstrated his enormous influence on the cryptocurrency market. Changing his profile on social network X triggered a series of events that radically altered the meme coin trading dynamics. Let’s analyze what’s happening in the market and how a simple profile picture change can cause billion-dollar capital flows.

Profile Change on X Sparks PEPE Surge

Elon Musk updated his profile picture, replacing it with the well-known internet meme “Frog PEPE” — a green frog that has become a symbol of crypto culture. This action immediately impacted the crypto market. The PEPE coin showed a sharp increase, fueled by a massive trading volume. According to recent data, heightened investor interest led to a significant capital inflow.

As of March 12, 2026, PEPE’s price reached $0.00, up 1.34% in the last 24 hours. Daily trading volume hit $8.13 million, indicating active trader participation in this meme coin. History shows that every public action by Musk regarding meme assets sparks waves of speculative interest in the market.

Additionally, Musk changed not only his avatar but also his account name from “Elon Musk” to “Kekius Maximus,” another signal of his interest in gaming culture and internet memes. The updated photo depicts PEPE holding a joystick, creating a narrative around the combination of video games and cryptocurrencies.

KEKIUS Maximus — New Star in the Crypto Market

Alongside PEPE, a new player related to this movement has appeared — the KEKIUS (Kekius Maximus) token. This coin has been around for a very short time and is traded exclusively on decentralized exchanges. KEKIUS’s initial surge was remarkable: last week, the coin experienced exponential growth of over 400%.

However, the market quickly corrected this euphoria. As of March 12, 2026, KEKIUS trades at $0.01, down 20.66% over the past week. This reminds investors of the volatility of meme assets and the risks associated with investing in high-risk cryptocurrencies, especially those traded only on decentralized platforms.

D.O.G.E. — Musk’s New Role in Government

Beyond influencing the crypto market, Elon Musk has taken the position of head of the newly established Department of Government Efficiency (D.O.G.E.), coinciding with Donald Trump’s administration in the US. Musk shares leadership of this department with Vivek Ramaswamy, known for his involvement in Trump’s crypto policies.

The main mission of D.O.G.E. is to cut federal spending by $2 trillion, matching the US budget deficit for 2024. Proposed measures include reducing federal civil servant numbers by about 75%, which could lead to mass layoffs in the federal workforce. This radical restructuring adds a new dimension to Musk’s growing influence on political agendas as a crypto-enthusiast entrepreneur.

Musk’s Conflict with Germany Escalates

Musk’s political activity has extended beyond the US. The German government accused the entrepreneur of attempting to interfere in the upcoming February elections. These accusations followed Musk’s publication of an op-ed supporting the right-wing party “Alternative for Germany” (AfD), with the phrase: “Only AfD can save Germany.”

Musk’s stance drew sharp criticism from Chancellor Olaf Scholz and sparked mass protests in German media. A prominent newspaper editor from Welt am Sonntag resigned in protest against the published column. This incident demonstrates how the influence of tech billionaires can extend into political processes across different countries.

Thus, Elon Musk’s current activities span three key areas: influence on the crypto market via meme assets, governmental restructuring in the US, and political interference in Europe. His actions continue to generate market volatility and ignite intense political debates.