Meme Coin MAX Plunges 86.4% From Peak After Musk Unfollows X Account Suspected to Belong to His Son Saxon

November 12: According to monitoring by on-chain analyst Ai Yi, Musk followed @ChainChomp131 — an account with only 5,000 followers, suspected to belong to his son Saxon — two days ago. The account launched the meme coin MAX in the early hours of today, with its market cap briefly topping $13 million, before the price dropped 86.4% from its peak after Musk unfollowed it. Address 9BMzT…FQdLU chased the rally and kept adding to its position, investing a total of $72,800 and now sitting on a $53,900 loss — a 70% drawdown in five hours.