Moving forward, we’ll begin by exploring the fundamentals of the Grok crypto project, providing you with a comprehensive understanding of its purpose. Furthermore, we’ll conduct a swift overview encompassing the projects and developments that catalyzed the inception of $GROK. Now, for those pondering where to acquire the Grok crypto token, we’ll guide you through this aspect, shedding light on the optimal platforms offering a decentralized, secure, and user-friendly experience to purchase $GROK.
Yet, before hastily diving into how you can acquire this new meme coin, we must thoroughly analyze the $GROK crypto token. So, our analysis – which you can find below – will scrutinize the asset’s tokenomics and historical price action. Additionally, we’ll clarify how Moralis Money can assist you in making informed decisions regarding when (if) to invest in $GROK.
What is Grok Crypto?
The Grok crypto project is all about the GROK cryptocurrency. The latter is a pure meme coin with no tangible utility or any other use case. As you can see in the above screenshot, the project pays tribute to Elon Musk’s new AI tool, Grok. Furthermore, there’s been a lot of misinformation regarding the relationship between xAI’s “Grok” tool and the Grok crypto project. Thus, it’s important to note that the two projects have no official affiliation. This is clearly stressed by the meme coin’s official X (formerly Twitter account), which points out the purely memetic nature of $GROK:
By further scrolling down the above-outlined X account, you can see a lot of memetic content. It mainly presents xAI’s Grok as the ultimate AI tool, which in some way establishes superiority over Chat GPT and other AI tools. Here are some examples of these types of memes:
So, what can you do with the GROK crypto project? Well, if you like memes, you can have fun with it. For instance, just by following the above X account, you could have a good laugh every time they post a new meme.
However, there’s a lot more lucrative “use case” for $GROK – you can trade it. Many folks, especially the ones on the Moralis Money Starter and Pro plan, have already made some serious profits with this new meme coin! After all, as you can see in our $GROK price analysis, the asset, despite its lack of utility, rallied quite hard within its first nine days.
What is X’s AI Grok?
Unless you’ve been living under a rock, you know that Elon Musk bought Twitter in April 2022. You’re probably also aware that he rebranded it in X. So, this “X” is what AI Grok is often associated with. The reason for this association lies in the fact that Musk, in one of the recent interviews, explained that Grok has real-time access to information via the X platform. However, it is important to note that Grok is an LLM (large language model) created by a separate entity – Elon Musk’s startup called “xAI.”
We will have to wait and see if and how the Grok LLM may be incorporated into the X platform. As of now, it is starting its journey as a separate tool, which is yet to go live in its alpha version. However, a few verified X users have been able to get early access to the tool or add themselves to the waitlist already.
If you are familiar with ChatGPT, it is not wrong to think of xAI’s Grok as a similar tool. However, unlike ChatGPT, the Grok LLM has access to real-time information. Of course, there are many other differences between the two powerful tools. We briefly cover some of them below.
Note: If you wish to learn more about xAI, Grok, and PromptIDE, visit the startup’s official website (outlined above).
XAI’ Grok vs. OpenAI’ ChatGPT
Purpose and Design:
- Grok: AI modeled after Hitchhiker’s Guide, with real-time knowledge, humor, and research focus.
- ChatGPT: Generalized language model without a specific thematic focus.
Capabilities:
- Grok: Grok-1 surpasses ChatGPT-3.5 in benchmarks, emphasizing reasoning and coding abilities.
- ChatGPT: Capabilities not explicitly detailed; standard use involves generating human-like text.
Development Environment:
- Grok: Offers PromptIDE for prompt engineering, code visualization, and analytics.
- ChatGPT: No specific integrated development environment.
Community and Access:
- Grok: Early access for US users, encourages feedback to improve capabilities.
- ChatGPT: Released to the public without specific early access programs.
Research Directions:
- Grok: Focus on scalable oversight, formal verification, long-context understanding, adversarial robustness, and multimodal capabilities.
- ChatGPT: Specific research directions are not outlined.
In summary, while both Grok and ChatGPT are language models, Grok seems to have a specific focus on real-time knowledge, humor, and research assistance with an associated development environment (PromptIDE). ChatGPT, on the other hand, is a more generalized language model without a specific emphasis on real-time knowledge or humor, and it does not have a dedicated integrated development environment.
The Meaning of “Grok”
It’s worth mentioning that “grok” is not just a meaningless combination of letters. After all, this term was originally coined in Robert A. Heinlein’s 1961 novel “Stranger in a Strange Land.” In that book, the author presented “grok” as an existential Martian word. Its meaning is to understand something fully and intuitively through empathy.
The term has since been adopted into pop culture and is sometimes used more broadly to convey a profound and empathetic understanding of something or someone. So, the term is quite befitting for an AI tool that aims to understand everything.
Where to Buy Grok?
If you decide you wish to get a bag of $GROK, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
$GROK Crypto Token Analysis
The GROK token was minted on November 4, 2023, and was immediately listed on Uniswap (see the chart below). It lives on the Ethereum blockchain, where it follows the ERC-20 token standard. As far as the asset’s total supply goes, there are a total of 6.9 billion instances of GROK. Here’s a recap of the GROK crypto’s tokenomics:
- Token name: GROK
- Symbol/ticker: $GROK
- Network: Ethereum chain
- Token type: ERC-20
- Smart contract address: 0x8390a1DA07E376ef7aDd4Be859BA74Fb83aA02D5
- Total supply: 6,900,000,000 $GROK
- Buy/sell tax: 0%
To explore the live distribution of the GROK coin, make sure to visit the “Bubble Chart” section of the Moralis Money $GROK page:
The Price of Grok Crypto
As you can see on the hourly $GROK price chart on a logarithmic scale below, its first hour was quite insane:
After listing at around $0.0000004, the GROK price reached as high as $0.0001179 within the first hour of trading. That is a nearly 300x increase in less than an hour.
Of course, it’s important to note that at that stage, the liquidity was tiny, and every purchase increased the value of the token significantly. So, catching this initial pump in its entirety was nearly impossible unless you somehow were on the “inside” of this project. That said, Moralis Money Strater and Pro plan users were able to detect $GROK the second it went live.
You can see that the initial pump continued beyond the first hour. It reached a local top within the eighth hour of trading at $0.000726. This is when the asset had a first breather, which resulted in a short-lived 55% pullback. But the asset recovered fast, and just eleven hours after the aforementioned local peak, it broke up higher.
Following that breakout, the price retested the $0.00053 region; however, it surged to a new ATH at $0.002175. That’s another 300% increase! After that high on November 5, the GROK crypto token entered a bearish trend on the hourly timeline. The latter lasted 39 hours and ended at the end of November 6 at $0.00076. This local low served as a great entry opportunity. After all, the asset entered into another massive 30x-plus rally from that level:
GROK Live Price and TA
As you can see in the above chart, $GROK needed just six and a half days to pull off such a large run. The latter resulted in a new all-time high (ATH) at $0.2458. Of course, there were several 20% – 40% pullbacks along the way; however, those with strong convictions were able to hold on to their $GROK bags. And with real-time, on-chain metrics offered by Moralis Money, they were able to exit near the top.
After all, in the above chart, you can also see that the token is, at the time of writing, experiencing a large correction. The current candle wick’s lowest point reaches approximately 60% below the asset’s ATH, while the current price bounces around $0.01. You can see this more clearly on the asset’s hourly chart on a normal scale:
The token is too young and only offers a few price points for a serious technical analysis (TA). However, we can outline current significant levels by switching to the four-hour timeframe. But keep in mind that their weight is rather weak:
The above-charted levels are the most likely targets for the ongoing correction. Once the price settles at some of these levels and starts to show signs of bottoming out, it could be a potential opportunity for entry. However, you should confirm that with the token’s real-time, on-chain metrics.
Should I Buy $GROK?
As with most meme coins, there’s not much to explore on the project side of GROK. However, to answer the above question with confidence, you ought to properly research the token’s price, alpha metrics (real-time, on-chain data), smart contract security, and token distribution. You can do that with precision on the above-presented Moralis Money $GROK page, which you can access via the above “$GROK” link or by using the interactive widget below.
Additionally, the smart contract security details and distribution insights will help you determine whether or not you should buy this token in the first place. That said, if there are not many security risks and the token distribution is relatively even (no large whales that hold the majority of $GROK), then you can move on to the second part – determine when to enter. To do this properly, consider the asset’s live price and real-time, on-chain metrics (alpha metrics).
Ideally, you want to look for a retrace that has already found a new support level and, at the same time, spot an increase in on-chain metrics.
Of course, also make sure to consider your current financial situation and your risk tolerance. After all, new meme coins are one of the most risky ventures in crypto!
Grok Crypto – What is Grok & Where to Buy the $GROK Token? – Key Takeaways
- The Grok crypto project is all about the $GROK meme coin, which pays tribute to the up-and-coming Grok AI tool.
- The Grok AI tool is one of Elon Musk’s ventures, created by his startup called xAI.
- $GROK already pumped heavily in its first nine days of trading.
- Before buying $GROK, make sure to analyze its smart contract security, token distribution, live price, and real-time, on-chain metrics.
- The best place to research this important aspect is the Moralis Money $GROK page. It will help you determine if/when to buy GROK.
Whether you end up buying the GROK crypto token or not, keep in mind that there are countless other altcoin opportunities. Now, while such an explosive price increase that $GROK experienced is far from usual, it happens more often than you might think. You just need the right kind of tool to spot them! Fortunately, spotting the best altcoin opportunities is Moralis Money’s main purpose. The platform offers a special feature called Token Explorer, which allows you to run unique filters and easily find the next coin to blow up.
If you are looking for a new crypto under a penny or an already-established altcoin getting ready to moon, Token Explorer is the tool for you. Essentially, Moralis Money allows you to deploy the best crypto trading strategies and finally become a successful crypto trader.
So, can crypto make you rich? Heck, yeah! However, you need to use the right tools – the ones that offer the best crypto insights!
