The price of a meme coin drawing its namesake from “Grok”, Elon Musk’s artificial intelligence project. The project is expected to increase over 70% after ZachXBT, a blockchain sleuth, alleged the token’s social media account was recycled from a scam token project, stated Cointelegraph.
On November 13, 2023, ZachXBT tweeted screenshots showing various social media accounts and websites tied to the Grok (GROK) token were repurposed from old project. These also included ANDY, an abandoned memecoin project which is expeected to have declined from its all-time high.
Furthermore, ZachXBT mentioned that GROK’s initiated an Etherscan transaction. The transaction was worth $1.7 million to a burn address in a bid to reduce supply and restore confidence in the token, Cointelegraph concluded.
(With insights from Cointelegraph)
