It looks like Elon Musk’s latest online stunt triggered yet another memecoin surge. On X, the Tesla co-founder and billionaire changed his display name to “gorklon rust” and swapped his profile picture to the logo of New XAI Gork (GORK), a meme coin launched days earlier.
The Gork account replied in kind, playing into the absurdity. The exchange was enough to set off a speculative rally across GORK and related tokens.
The result was… well, very predictable: GORK spiked over 80% to $0.0832, according to CoinGecko. It has since pulled back to $0.0538 but remains positive on the day. Market cap briefly crossed $80 million before settling around $53 million.
- GORK price. Source: CoinGecko
GORK’s branding leans on Grok, the AI chatbot developed by Musk’s company xAI, positioned as an irreverent alternative to ChatGPT and integrated directly into X. Despite no formal link between Musk and the token, the change to his profile was enough to spark a speculative frenzy.
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As of now, GORK’s main value proposition is its meme status. There is no product, service, or intrinsic utility. However, the GORK community on X has floated ideas for future directions, including community-voted donations, access to exclusive digital artwork or NFTs, and potential integration into a blockchain-based game.
Beware of scammers, however, as there are many impersonators trying to defraud users as the hype takes over social media. In the last 24 hours, there have been a flood of GORK-inspired tokens launched in the aftermath, seeing intraday gains between 4,000% and 7,000% as traders rushed to capitalize on the hype.
The GORK community on X warned about the rise in copycat tokens and how fraudulent they are.
Elon Musk’s Memecoin Past
Last year, Musk changed his X avatar to “Kekius Maximus,” a Roman-themed frog in armor. The obscure frog coin KEKIUS launched into a 4,000% rally within 24 hours.
Retail traders turned sub-$100 entries into seven-figure wins. But the high didn’t last. Once Musk removed the image, KEKIUS crashed 60% within a day. It’s now down nearly 90% from its January peak.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
