Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, recently altered his display name on X (formerly known as Twitter) to \"gorklon rust\" and updated his profile picture to an image inspired by a Gork meme. This action has sparked a surge in the value of Gork-themed tokens. Additionally, numerous new \"gorklon rust\" tokens have emerged rapidly, with some experiencing price increases of up to 7,000%. It is worth noting that the follower count of Gork on X also experienced a sharp rise, jumping from approximately 86,000 to over 113,000.

Gork is a parody account of xAI's AI chatbot Grok. Known for its humorous and unconventional replies, Gork has amassed a devoted fanbase on X, which includes Musk. The Tesla CEO announced the display name change on May 4, stating:

Gork's response to Musk's post further fueled the viral trend.

Following this, a wave of market activity ensued as meme coins associated with the \"gork\" theme encountered unprecedented volatility. According to data from DexScreener, a meme coin called New XAI Gork (GORK) skyrocketed by 58.7%. Its market capitalization surpassed $64 million, placing it at the second position on CoinGecko's trending list.

However, the excitement did not cease there. Shortly thereafter, several new meme coins labeled under the \"gorklon rust\" category were launched. The latest data indicates that these smaller-market-cap tokens witnessed even more dramatic gains, with some surging between 4,000% and 7,000% within a single day. Trading volumes for these tokens increased significantly, reflecting heightened speculative interest spurred by Musk's actions.

Despite this, the fervor seems to be diminishing just as swiftly. Over the last hour, multiple tokens have plummeted in price, underscoring the highly volatile and risky nature of meme coin trading, where swift reversals are as frequent as abrupt rallies.

Simultaneously, this recent event echoes Musk's previous meme-driven market maneuvers. In late 2024, his adoption of the \"Kekius Maximus\" persona resulted in a 504% increase in the KEKIUS meme coin. Similarly, Musk's username change to \"Harry Bolz\" in February 2025 prompted a 3,000% spike in the HARRYBOLZ meme coin, as reported by BeInCrypto. Furthermore, Musk's \"Dogefather\" antics similarly drove related tokens to substantial gains.

While Musk's latest move has garnered attention and profits for some, it also highlights the speculative character of meme coins, where gains can be as transient as the trends that propel them.

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