Elon Musk’s Surprise Move Sends GORK Soaring
The quirky billionaire Elon Musk continues to make waves in the crypto world. His decision to change his pseudonym on X (formerly Twitter) to “Gorklon Rust” was enough to propel the memecoin GORK – a token based on Solana – into the spotlight.
In just a few hours, this token inspired by Grok, Musk’s conversational AI from xAI, saw its value surge by over 100%, 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 $0.017. 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.
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 willing to take the risk, here is a detailed guide on how to purchase it on Bitget:
- Create a Bitget account: Sign up on bitget.com with your email or phone, verify the code sent, and activate 2FA for security.
- Verify your identity (KYC): Submit an ID to complete the necessary KYC verification for trading.
- Add funds: Deposit cryptocurrencies (USDT, BTC) or fiat via credit card (Visa, Mastercard) or wire transfer in the “Deposit” section.
- Access the market: Go to “Spot Market,” search for “GORK,” and select the GORK/USDT pair.
- Make the purchase: Choose a market order (immediate purchase) or limit order (set price), enter the quantity, and confirm.
