Solana’s GORK Token Rallies 100% After Musk Drops New Alias on X

• GORK meme coin spikes 100% after Elon Musk changes name to “Gorklon Rust”
• GORK retraces after $72M peak as market questions Musk’s lasting impact
• TRUMP token drops 85% amid ethical backlash, calls for Senate probe grow

Elon Musk stirred up the crypto world again, this time just by changing his name on X. His switch to “Gorklon Rust” – a playful reference to his Grok AI chatbot from xAI – immediately set off a familiar meme coin scramble.

Almost instantly, a new Solana-based meme coin, GORK, took off like a SpaceX launch. The token rallied nearly 100% within 24 hours, reaching an all-time high of $0.083 on May 4th, before pulling back to around $0.06274. 

While speculation rages that Musk’s xAI team may be behind the parody launch, no confirmation has been made.

GORK Price Cools Off

Since the sharp rise at the start, GORK’s price has since started to bleed. Its market cap, which had peaked at $72 million, now hovers around $68 million. 

Technical indicators such as RSI, ranging between 58 and 60 on the daily chart, suggesting that bullish momentum still lingers but bears are taking over.

Contest between @grok and @gork om who is m…

The post Solana’s GORK Token Rallies 100% After Musk Drops New Alias on X appeared first on Coin Edition.