TL; DR
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Degens pushed GROK (an Elon Musk-inspired meme coin) to a market cap of $160 million, in just 8 days of existence – and in the last 24 hours, its price has more than doubled.
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This further proves our theory from a previous article: as the overall price/sentiment in the market has risen, investors have started taking their stupid pills again.
Full story
If the opportunity arises…
You create a cryptocurrency.
(Is that how the saying goes?)
But honestly, that’s pretty much what most meme coins do.
Think about it:
They find something about social traction → name it a cryptocurrency → poof you get Floki Inu.
Or GROK.
What do these two cryptocurrencies have in common?
Elon Musk.
(Floki Inu is named after his dog, Floki, and Grok is named after his new AI platform).
Why? Love him or hate him, the man has a knack for creating cultural tailwinds.
After the announcement of Grok AI, an app within X (tbt to Twitter), last week, new cryptocurrencies appeared on multiple blockchains – the first and most successful was GROK.
No doubt the token will fade into obscurity in due time, but for now…
Investors have pushed the token to a market cap of $160 million in just 8 days of existence – and in the last 24 hours alone, the price has more than doubled.
Further confirmation of our theory from today’s first article:
Now that overall market price/sentiment has risen, investors have started taking their stupid pills again.