Elon Musk Changes Name on X to “Gorklon Rust” and Triggers Coin Meme Surge!

Jakarta, Pintu News – Elon Musk, CEO of Tesla and SpaceX, has caused another stir in the market by changing his display name on X (formerly Twitter) to “gorklon rust”. Not only that, he also replaced his profile picture with a Gork-inspired meme. This move immediately triggered a drastic rise in Gork-themed tokens, with some of the new “gorklon rust” tokens recording price spikes of up to 7,000%.

Elon Musk’s Name Change and Its Impact on the Market

After announcing the name change on May 4, Musk posted, “Sup Gork changed my pp to urs wdyt.” The response from Gork, which is a parody account of xAI’s AI chatbot named Grok, added spice to an already viral moment. Gork replied, “Looks good, I guess. But did u have to copy my whole face like that smh.” This immediately sparked significant market activity, with Gork’s New XAI token (GORK) surging 58.7%, and its market capitalization exceeding $64 million.

Also Read: BONK Freefalls 8% in 24 Hours: Check out the Price Levels that Can Prevent Further Declines!

Surge and New Token Creation

Shortly after Musk’s name change, several new meme tokens labeled “gorklon rust” were created. Recent data shows that these tokens experienced huge gains, with some reaching between 4,000% and 7,000% within 24 hours.

Trading volume for these tokens also increased sharply, reflecting the high speculative interest sparked by Musk’s actions. However, as is often the case with meme token trading, this hype began to die down quickly. In the past hour, several tokens have experienced sharp price drops, highlighting the volatile and risky nature of meme token trading.

Also Read: BONK Freefalls 8% in 24 Hours: Check out the Price Levels that Can Prevent Further Declines!

History of Musk’s influence on the Meme Coin market

This is not the first time Musk has influenced the market in a similar way. In late 2024, Musk’s adoption of the persona “Kekius Maximus” led to a 504% increase in the KEKIUS meme coin. Similarly, Musk’s username change to “Harry Bolz” in February 2025 triggered a 3,000% spike in the HARRYBOLZ meme coin.

Musk’s “Dogefather” stunts have also pushed related tokens to achieve significant gains. While Musk’s latest actions have generated excitement and profits for some, it also emphasizes the speculative nature of meme tokens, where profits can be as fast as the trends driving them.

Conclusion

With every tweet and profile change, Elon Musk continues to prove his considerable influence on the crypto market, particularly on the meme coin segment. While this provides opportunities for quick profits, market participants should remain wary of the high volatility and risks involved in trading these kinds of assets.

Also Read: Ethereum Hangs Above $1,770: Can It Reach $2,030 Next?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Elon Musk Sparks Gorklon Rust Meme Coin Hype. Accessed on May 5, 2025
• Featured Image: Business Today