Hundreds of GROK Tokens Launched Days After Elon Musk-Backed ChatGPT Rival Goes Live
Several GROK tokens have been released days after Elon Musk announced GROK, an AI chatbot touted as a major rival to ChatGPT.
Over the weekend, nearly 400 tokens have been released to the ecosystem by new developers inspired by GROK with some having hopes to turn into the new Dogecoin (DOGE) or Shiba Inu.
Announcing Grok!
Grok is an AI modeled after 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…
— xAI (@xai) November 5, 2023
At the moment, the total market capitalization of these GROK tokens has hit tens of millions as low-trading investors look to make a short-term profit from their initial purchase.
Blockchains and web3 now make it easier for developers to issue tokens on multiple networks, listing and trading them on different decentralized exchanges before being accepted by their centralized counterparts.
Over the years, the crypto market has recorded a rise in multiple memecoins, a section of altcoin built around certain events or a curated community often as a joke with no significant utility.
However, memecoins became popular with more utilities added following the sharp rise of Dogecoin and Shiba Inu earning the term a billion dollars joke.
Several GROK-themed tokes have made an uphill run within days recording over 1000% gains as the hype continues as AI tokens garner popularity.
Recent data from Dextools show a particular token making a 1,300% spike since its launch with a total trading volume of $7.32 million despite a slight decrease in the last couple of hours.
Similarly, another token has made a huge leap of 231% in the last 24
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