GROK Token Plunges Amid Scam Rumors
The GROK token, inspired by Elon Musk’s project and backed by Grok AI, an artificial intelligence service from Elon Musk’s social app X, recently saw a 20x drop following rumors of a scam associated with the Grok X account. The data revealed that the account was recycled from another scam token project’s account.
After the rumor surfaced about Grok’s X account being linked to a scam token project, a smart trader sold a large amount of GROK for ETH, leading to an overall dump in the AI-backed cryptocurrency.
Crypto Scam Rumor Facilitates GROK Swap
Recent reports indicated that Grok’s (GROKERC20) social media accounts and websites were recycled from a scam token project. Following this revelation, a smart address, 0xbb0, sold $400k worth of GROK for ETH. This sell-off resulted in a massive price plunge as the wallet accounted for 0.5% of the total GROK tokens in supply.
Amid ongoing rumors about Grok’s social media account being recycled by a scam token project’s account, the sell-off caught the attention of crypto market enthusiasts worldwide. The GROK price witnessed a significant drop, and the smart trader, 0xbb0, earned a $416k profit in two trading cycles.
GROK Price Evaluation
The GROK price fell by 40.44% over the past twenty-four hours to reach $0.000008215. Although there was a significant increase of 37.11% over the past seven days, the revelation about Grok’s X account being recycled from a scam token project’s account caused a substantial downfall recently. Despite this, crypto market enthusiasts remain hopeful for a positive future outlook due to the token’s recent growth.
Hot Take: GROK Faces Major Setback Amid Scam Allegations
The recent scandal surrounding Grok has led to significant losses for investors and traders alike. The impact of these allegations on the token’s long-term prospects remains uncertain. As always, it’s essential to conduct thorough research before investing in cryptocurrencies to minimize potential financial risks.
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