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Elon Musk, CEO of Tesla, changed his display name on X to ‘Gorklon Rust,’ causing the Gork meme coin’s value to nearly double.
Tesla CEO Elon Musk
(Photo Credits: X)
Tech billionaire Elon Musk, the CEO of Tesla, has updated his display name on X to ‘Gorklon Rust.’ This change has significantly impacted the value of the Gork meme coin, which saw a sudden increase in its price. The name ‘Gorklon Rust’ appears to reference Musk’s AI chatbot “Grok” and the programming language “Rust,” both connected to his AI company xAI.
What Is A Meme Coin?
It is a cryptocurrency being inspired from internet memes, jokes, puns, or popular culture. These are usually started as a fun or humorous project that attracts attention sometimes and gain real value and popularity due to online hype and community support. Dogecoin, Floki Inu, and Shiba Inu, name a few.
Price Surge in Gork Meme Coin
Following Musk’s name change, the Gork meme coin, present on the Solana blockchain, experienced a nearly 100% increase in value within 24 hours, reaching an all-time high of $0.083 before stabilizing around $0.
This event underscores Musk’s powerful influence on the cryptocurrency market, especially in the volatile meme coin sector.
References in the New Display Name Elon Musk’s new display name on X seems to blend elements of his AI initiatives. “Grok” is the name of his AI chatbot developed by xAI, while “Rust” likely points to the programming language used in xAI’s technology. This combination suggests a clear link to his AI ventures.
Previous Display Name Change
This isn’t Musk’s first alteration of his display name on X. Earlier this year, he changed it to “Kekius Maximus” and updated his profile picture to feature the “Pepe the Frog” meme holding a video game joystick. Kekius Maximus (KEKIUS) became notable in the cryptocurrency market, drawing significant interest from investors. As of December 27, 2024, KEKIUS is trading at approximately $0.005667, marking a remarkable 497.56% surge in the past 24 hours.
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