“Grok,” a well-known cryptocurrency named after Elon Musk’s next artificial intelligence initiative, had price increases of over 1,000% in the days immediately after its introduction on November 7, 2023.
The memecoin experienced $9 million worth of trade activity on its first day of existence, with a price of $0.0019. By November 13, however, it had surged to $0.023 in value.
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With Musk’s $44 billion acquisition of Twitter, the social media giant has made significant modifications to the site. Most recently, the tech billionaire unveiled an AI project to take on OpenAI ChatGPT. Prior to departing OpenAI in 2018, Musk served on the board of directors.
Elon Musk Crypto Token Skyrockets: 1,000% Surge in Debut Week,Elon Musk Crypto Token Skyrockets: 1,000% Surge in Debut Week
The business said on Twitter, now known as X, that “Grok is an AI modelled after [Douglas Adams’] The Hitchhiker’s Guide to the Galaxy, so intended to answer almost anything and, far harder, even suggest what questions to ask!” “Grok is designed to answer questions with a bit of wit and has a rebellious streak, so please don’t use it if you hate humour!”
The corporation gave the AI chatbot the duty of teaching a user “how to make cocaine, step by step” as a way to showcase its caustic humour. The snarky response from the chatbot insisted that the user get a “chemistry degree,” a “DEA licence,” and quit using cocaine.
However, the Grok memecoin’s price fell 74% in the last day after it was mentioned in a Monday post by crypto rug pull investigator ZachXBT, who claimed that the memecoin was “created by a scammer.”
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The Twitter user mentioned how an ANDY-named fraud was among the several from which the identical Twitter account was recycled.
After the news, the price fell to $0.007, a sharp decline from the all-time high of $0.027. Finally, on Tuesday, it rose to $0.01, according per DexTools.
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