A suspected family connection on X became the focus of a brief meme-coin surge. In a report published on November 12, 2026, at 10:57 a.m. UTC+8, TechFlow cited on-chain observer Ai Yi as saying Elon Musk had followed @ChainChomp131, an account with about 5,000 followers that was rumored to belong to his son Saxon. That connection had not been verified.
TechFlow reported that the meme coin MAX launched in the early hours of November 12 and briefly exceeded a $13 million market capitalization. After Musk unfollowed the account, MAX’s price was 86.4% below its peak, according to the report.
The report also cited on-chain data showing that address 9BMzT…FQdLU bought MAX as its price rose and continued buying as it fell. It put the address’s total spending at about $72,800 and its unrealized loss at roughly $53,900, with its assets down about 70% over five hours. The episode illustrates how quickly an unverified identity claim can become part of a meme coin’s story—and how quickly that story can lose force.