GROK, a cryptocurrency named after Elon Musk’s AI Chatbot Grok, has witnessed a remarkable ascent, recording a 650% increase in a mere 24-hour timeframe. This dramatic rise in the token’s price coincides with the recent launch of Grok.
Specifically, following the release of Grok over the weekend, anonymous crypto developers pushed out certain amounts of GROK tokens to the public. These tokens rapidly achieved a market cap in the millions, yielding substantial returns for early investors who had acquired them at lower prices.
GROK’s 24-hour Greenish Chart | CoinMarketCap
Notably, a report suggested that Elon Musk named his AI chatbot Grok after a character from the classic sci-fi series “The Hitchhiker’s Guide to the Galaxy,” known for its cheeky demeanor.
It is worth stating that GROK has no affiliation with Elon Musk or any of his companies. Emphatically, in a recent statement, the tech billionaire firmly asserted that his companies will never create a cryptocurrency. The clarification came following the appearance of a meme token named XAI.
The emergence of the XAI token coincided with Musk’s announcement of his new artificial intelligence venture, xAI, the company behind the beta version of the Grok system. In response to the unfolding events and potential confusion among investors, Musk stated: “To be super clear, none of my companies will ever create a crypto token.”
Meanwhile, XAI and GROK are not the only instances in which opportunist developers have unveiled meme cryptocurrencies banking in Elon Musk’s reputation and activities. After the rebranding of Twitter to X, a meme token with the same name, “X,” emerged. This comical coin experienced an astonishing surge of over 10,000% within the first 24 hours of its launch.
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