Smart money wallets are aping into a new meme token on Solana, this time unofficially related to Grok AI

The AI bot on X was asked to produce a coin name, and came up with Grok Coin (GrokCoin), which was promptly minted on Solana.

A new meme token has emerged on Solana, unofficially linked to Grok AI. The AI bot on X was asked to come up with a coin name, and it chose Grok Coin (GrokCoin), which was later minted on Solana.

Just a few hours after launching an unofficial Grok Coin, proposed by the AI agent on X, smart money wallets began investing in the new asset. The inflow of funds is relatively low for a meme token, as investors are more cautious and there is no mass retail entry yet.

Alphanomics noted that smart whales are already picking up the token, anticipating an eventual breakout. The market remains skeptical, as meme assets are often used to drain the liquidity pool after enough buyers enter.

The only difference from other similar memes is that the current GrokCoin was named by the AI model itself. The token’s fame reimagines the creation of FARTCOIN, which was also named by the Truth Terminal AI model.

GrokCoin is inviting retail buyers, while smart money watches on the sides and makes cautious moves, according to Nansen researchers.

GrokCoin, at the moment, is the most active version of the meme token, with a valuation of $24.5M, and $945K in its liquidity pool. The original GrokCoin is relatively well-distributed, and has not been dumped for profit. The top trader took a profit of $330K, smaller compared to other rug-pulled tokens.

According to Bubblemaps, GrokCoin is distributed among diverse wallets, with still only a few connected clusters. The token does not show immediate signs of being sniped or held by insiders. For that reason, the GrokCoin ticker also has the healthiest chart and highest liquidity.

A few hours after its launch, GrokCoin rose to $0.022, surpassing other copycat tokens and emerging as the most promising version.

Several risky copycat tickers confuse traders

One of the most active copycat coins was the ticker GROKCOIN. Despite the doubts, early whales pumped $1M into the token, which immediately started actively trading. Grok was also quickly sold, leaving just $368K in its main liquidity pool. GROKCOIN already went through its first rug pull, a crash from $0.09 back down to $0.009, erasing 90% of its value.

GROKCOIN is trading at $0.00011, after having a small 10X rally. In the early hours since its launch, The token did not manage to break above a penny. It does not have a marketing campaign or any organized promotion by influencers, relying only on the growing usage of the Grok AI model.

What is even more confusing, there are multiple Grok copies or tokens previously created to reflect the model’s success.

One of the recently launched variants, known simply as Grok, traded at $0.00011, with liquidity of just $47,000. The copycat meme is gaining some traction, though nowhere near the original GROKCOIN.

Insiders took early profits on GROKCOIN

GrokCoin showed that social media memes can still be turned into tokens and cause at least some inflows of liquidity. However, GROKCOIN came with a warning for being launched by a team known to rug pull or at least aggressively extract liquidity from tokens.

Hours after the launch, the top GROKCOIN trader had already realized $1.9M in earnings, essentially draining the liquidity pool. The second-best trader locked in $772K, with other sellers locking in over $400K within hours.

As with other meme assets, GROKCOIN looks like being sniped early and held in insider wallets. The top wallet controls over 17% of the asset’s supply. As a coincidence, it is precisely this wallet that dumped and realized the highest profits extremely early in the history of the token.

The remaining supply of GROKCOIN is split into smaller wallets, holding exactly 0.55% or 0.50% of the token’s supply. Those similar wallets may also be used to dump on new buyers. After the initial rug pull, GROKCOIN continued with more trading in the green, though there is still a large portion of the supply that can be dumped on retail owners.

GrokCoin follows a long trend of fake launches, especially for coins linked to Elon Musk, X, or any other related products or companies. While the asset really exists, it follows the rules of risky new launches. GROKCOIN trades on Raydium, and although its liquidity is locked, the main pool fluctuates depending on buying and selling pressure.