Here’s Why New XAI Gork (GORK) is Trending

New XAI Gork (GORK), a recently-launched memecoin on the Solana blockchain, has received massive attention from investors over the past 24 hours. The token surged by over 70% following a recent post by Tesla’s billionaire CEO, Elon Musk. 

Why is GORK Trending?

Gork is an X (formerly Twitter) account that acts as a parody of Grok, the artificial intelligence (AI) chatbot developed by xAI, an AI startup launched by Elon Musk. The account had garnered thousands of followers on the platform for its witty responses.

On Sunday, May 4, Musk changed his X display name to “Gorklon Rust,” and updated his profile picture to the Gork logo. The billionaire CEO announced the profile change and tagged the Gork account.

sup @gork

changed my pp to urs wdyt

— gorklon rust (@elonmusk) May 4, 2025

Musk’s post sparked a frenzy among memecoin enthusiasts. Following the post, several memecoins attached to Grok saw notable spikes in their prices, with some recording multiple digit gains. The newly launched New XAI Gork, (GORK), saw significant price changes.

GORK soared by more than 70% to $0.08 within a few hours, according to data from CoinGecko. The memecoin’s market cap also skyrocketed, briefly crossing $80 million.

Notably, the frenzy surrounding the token is cooling off as its price has retracted to $0.06 at the time of writing. GORK’s market cap and trading volume has also declined considerably over the past few hours. 

Elon Musk’s Impact on Memecoins

The billionaire CEO of Tesla is known for his huge impact on the prices of crypto assets due to his posts and profile changes. Thus, the latest frenzy is not so surprising.

In 2021, Musk sparked a major memecoin rally surrounding Dogecoin (DOGE) with several posts endorsing the token. DOGE’s price skyrocketed within a few hours to over $0.7, yielding early investors massive gains. While DOGE is nowhere near its all-time high (ATH), it has since maintained its position as the top memecoin in the crypto market.

Similarly, in December 2024, the billionaire CEO changed his name on X to “Keikus Maximus” and replaced his profile picture with the “Pepe the Frog” meme. Subsequently, the prices of several frog-themed memecoins, including PEPE, soared.

Notably, the memecoin KEKIUS saw the most significant gains. The token surged by over 1,000% within 24 hours, with several smart traders cashing out huge profits.

Additionally, in February 2025, Musk’s activities on X sparked yet another memecoin frenzy. In a similar move, he changed his profile name to “Harry Bolz” and soon enough, several tokens with the same name popped up and recorded significant gains.

Are Memecoin Rallies Sustainable?

Over the past few years, memecoin rallies have proved to be highly unpredictable. The memecoin market is known for its abrupt rise and subsequent fall, especially with traders chasing quick profits. 

There are several instances of investors turning decent investments in newly launched memecoins into millions of dollars. In one instance, a savvy trader turned $1,690 into $20 million in just six days. 

However, most these tokens have failed to sustain their hype, with several of them currently trading at over 90% lower than their peak prices. Additionally, the recent development with GORK further highlights how high-profile figures like Elon Musk can influence the market.

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