Ever since the announcement of Grok, over 400 unique cryptocurrency tokens have emerged, all bearing names inspired by Elon Musk’s competitor to ChatGPT.
In the wacky world of cryptocurrency, even when Elon Musk says "no" to creating crypto tokens, the crypto cosmos seems to hear "yes." Musk's latest creation, Grok, sent crypto enthusiasts into a tizzy, with XAI (a token with a similar name) skyrocketing 175%. But the real show-stealer? Opportunistic traders created over 400 Grok-related tokens, some featuring Musk's face, amassing over $10 million in market cap.
However, as the drama unfolded, around 10 of these Grok tokens decided to pull the rug from under investors, resulting in $1 million in losses. So, remember, in the crypto world, expect the unexpected, and be cautious, because even Elon Musk can't predict which way the rollercoaster will go. 🚀😅💸