Elon Musk's AI chatbot Grok's self-name Grok, Grokcoin, has accumulated a market capitalization of $20 million and a trading volume of $100 million just an hour after its launch.
On March 7, X users asked the social media platform's built-in AI chatbot, the name Memecoin. Grok then responded to the query, citing reasons such as connections to the AI chatbot's name, and citing reasons that would be sufficiently “catchy” for crypto traders.
“Memecoins often draw inspiration from internet trends and humor, like Dogecoin's (Doge) dog meme roots, and can gain traction through community engagement on platforms like X,” Grok also provided Token's contract address.
Soon after the post went viral, Solana (SOL)-based tokens had a surge in trading volume to nearly $100 million. Market capitalization reached $20 million, returning between $15 million and $12 million. At the time of pressing, tokens have grown by nearly 65% and are currently trading their hands at $0.018.
According to GMGN data, tokens remain liquid at nearly $1 million, with a supply of 1 billion tokens. Currently, around 12,463 traders own Grokcoin after launch, with net purchases of $180,000.
Aside from the self-name Glock Coin, there are already Glock tokens on the market. A token called Grok was released on Ethereum (ETH) long before Grokcoin was created. According to Coingecko, Grok rose 8.2% after Memecoin went viral, and is currently trading hands at $0.003.
Grok is already featured in the latest update, Grok 3. The Grok 3, released last February, was built by Tech Startup Xai by X-owner Elon Musk. Musk claimed in his X account that Grok 3 is “the smartest AI on the planet.” When the AI chatbot was first announced by Musk in November 2023, several developers launched Grok-Copycat coins as many as 30,000%.
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