Grok Meme Coin Makes Millions Using Same Name as Elon Musk's AI Chatbot
A Grok token—not THE token, since it's not officially attached to Elon Musk's recently launched AI service—hit a $160 million market capitalization just eight days after its debut.
But as an 8-day-old meme coin that's not actually issued by the AI chatbot that it shares a name with, it's experiencing a lot of volatility. While this story was being written, the GROK token's market capitalization dropped as low as $78 million according to DexTools.
Its value has soared by 13,000% over the past week, with a doubling of prices in just 24 hours. But to be clear, that means it has reached an all-time high of $0.02, according to CoinGecko. Despite having 11,500 holders and significant trading volumes, the liquidity for GROK-USD is limited, which raises the risk of a price crash if large amounts are sold off.
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