The 24-hour trading volume of GrokCoin exceeds $100 million, with over 12,000 holders.
Author: 1912212.eth, Foresight News
Around 2 PM on March 7th, the meme coin GrokCoin has surged from a single price of $0.0003 to $0.028, a nearly 80-fold increase, since its official launch. What is GrokCoin, and what has attracted such a flood of market capital?
Amidst the sluggish market, the memes on Solana have been dormant for days. Data shows that the number of active addresses on Solana dropped to an average of 9.5 million per week in February, a nearly 40% decline from 15.6 million active addresses in November 2024. Since mid-February, most meme coins have failed to even reach a market cap of 1 million. However, today, a large MC memecoin has finally emerged.
The origin of this event stems from Musk's tweet mentioning the recent hot AI product Grok, and a certain user asked, "If you were to name a meme coin, what would you call it?"
Grok's response then attracted tens of thousands of views and hundreds of likes, "As Grok, I suggest naming the Memecoin 'GrokCoin' - this name is both playful and closely related to my AI identity, and it's also very catchy for crypto players. Memecoins often draw inspiration from internet trends and meme culture, like Dogecoin evolving from the Doge meme. At the same time, the popularity of Memecoins often depends on widespread community interaction, especially fermentation and dissemination on platforms like X."
GrokCoin was quickly born. However, to prevent risks, Grok was also very smart, and specifically pointed out that GrokCoin is not an official project or token launched by xAI, but rather a Memecoin name proposed by fans, inspired by popular meme coins like Dogecoin. Creating a Memecoin usually requires going through multiple steps such as smart contract development and community building, and xAI is currently focused on R&D of AI technology and will not launch any cryptocurrency projects.
It is worth mentioning that later, some well-intentioned people guided Grok to post a Pump link in the comments, but perhaps considering many negative factors, the original tweet was quickly deleted.
As of the time of writing, GrokCoin is trading around $0.015, with a market cap of over $15 million, a 24-hour trading volume exceeding $100 million, and over 12,000 holders. Investors need to be aware of the risks when participating.
