Grok Token, Unrelated to Elon Musk's AI Tool, Rides Meme But Falls from $160 Million to $78 Million
The Grok token, which is not officially associated with Elon Musk's AI service, reached a market capitalization of $160 million just eight days after its launch. However, the token has experienced significant volatility, with its market capitalization dropping to $78 million. Despite its rapid price increase of 13,000% over the past week, the liquidity for GROK-USD is limited, posing a risk of a price crash if large amounts are sold off.
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Grok Token, Unrelated to Elon Musk's AI Tool, Rides Meme But Falls from $160 Million to $78 Million
The Grok token, which is not officially associated with Elon Musk's AI service, reached a market capitalization of $160 million just eight days after its launch. However, the token has experienced significant volatility, with its market capitalization dropping to $78 million. Despite its rapid price increase of 13,000% over the past week, the liquidity for GROK-USD is limited, posing a risk of a price crash if large amounts are sold off.