Elon Musk’s Surprise Move Sends GORK Soaring

Elon Musk’s surprising move has sent GORK soaring.

Quirky billionaire Elon Musk never fails to stir the crypto world with his antics. This time, his decision to change his pseudonym on X (formerly Twitter) to “Gorklon Rust” has propelled the memecoin GORK – a token based on Solana – into the spotlight.

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This move comes as no surprise, considering the recent buzz surrounding Grok, Musk’s conversational AI from xAI. The token, named after Grok, saw its value surge by over 100% in just a few hours, reaching a peak of $0.096 before settling slightly at $0.06274.

Its market capitalization briefly exceeded $82 million, making it one of the hottest memecoins on CoinMarketCap.

This remarkable rise echoes past events where Musk’s name changes on social media triggered similar market movements.

In December 2024, his alias “Kekius Maximum” caused a surge in the value of Pepe Coin and its clones. In February 2025, his pseudonym “Harry Bolz” led to the instant creation of dozens of new tokens.

Technical Analysis : Is GORK Ready to Continue its Surge ?

Technical data analysis confirms that GORK remains in the spotlight for savvy crypto investors. With a daily trading volume of 70 million, it has the potential to continue rising. However, the buyer/seller ratio is balanced, indicating a crucial point between profit-taking and new buyers’ entry.

On the other hand, the RSI in 1H shows a bearish divergence, with a score of 54 approaching the neutral zone.

Currently at the mid resistance of its Bollinger Band, the memecoin must stay above $0.046 to avoid dropping to the next demand zone at $0.17. This would represent a 73% drop from its current price.

According to renowned experts like @HazePump, GORK could soon reach a market capitalization of $100 million. In other words, despite a observed 20% correction, the potential for recovery remains, especially with the renewed interest in memecoins.

It is crucial to monitor the buying volumes to break the ATH (All-Time High) and confirm a new bullish wave.

Should You Buy?

The recent developments surrounding GORK once again demonstrate the significant influence that dominant figures like Elon Musk have on the cryptocurrency market.

Far from being mere jokes, memecoins now require analysis of both social trends and traditional technical indicators. A strict risk management approach remains key to taking advantage of these opportunities.

New Listing from #BitgetOnchain – $GORK (New XAI gork)🔹Pair: GORK/USDT

🔹Deposit available: now

🔹Trading available: May 3, 12:00 (UTC)

Details: https://t.co/0qPrOxufUC pic.twitter.com/q5KqqdhL1K

However, GORK remains vulnerable to significant drops if the hype fades. Divergences and lack of interest from new buyers could result in a drop of over 70%. For those interested in taking a chance on this memecoin, here is a step-by-step guide on how to purchase it on Bitget: