A small account followed by Elon Musk became the focus of a short-lived meme-coin surge. In a report published on November 12, 2026, at 10:57 a.m. UTC+8, ChainCatcher cited monitoring by ai_9684xtpa that Musk had followed ChainChomp131, an account with about 5,000 followers, two days earlier. The account was suspected of belonging to Musk’s son Saxon; the report did not establish who operated it.
According to the report, the account issued a meme coin called MAX early on November 12. Its market capitalization briefly exceeded $13 million. Musk subsequently unfollowed the account, and MAX fell 86.4% from its peak. The sequence does not, by itself, establish why the price fell.
ChainCatcher also reported that wallet address 9BMzT…FQdLU bought MAX as it rose and kept buying after the decline. It put the address’s total spending at $72,800 and its loss at approximately $53,900, saying its assets shrank 70% within five hours.