In the world of meme tokens, $GROK, inspired by Elon Musk’s announced AI chatbot of the same name, has gained attention with an all-time high market capitalization of around $160 million and a peak value of nearly two and a half cents. Despite its association with Elon Musk’s chatbot, the $GROK token is unrelated and operates as a meme coin.

$GROK was quickly developed by an anonymous team, following the trend of meme tokens like $PEPE, $SHIB, and $DOGE. The token’s website contains minimal information about Elon Musk’s chatbot, the token’s contract address, and links to a Telegram channel and an X account.

The token’s value experienced a decline from its all-time high, and the developers recently announced the burning of all remaining tokens in their deployer account, totaling over 180 million tokens with a claimed value of $2 million.

A security researcher raised concerns about the previous use of the linked X account for a token described as a scam. In response, the $GROK team stated that the previous token did not attract attention and “died,” leading to the burn of tokens from the deployer wallet.

$GROK’s notable volume and scrutiny may be attributed to renewed liquidity in the crypto space and increased interest in the Grok AI chatbot. The Grok chatbot, developed by Musk’s xAI, is a large language model designed to compete with tools like OpenAI’s ChatGPT. It draws inspiration from Douglas Adams’ Hitchhiker’s Guide to the Galaxy and aims to offer real-time knowledge of ongoing events and human reactions.

Despite its humorous nature, Grok has faced criticism, with OpenAI’s chief referring to it as “cringey boomer humor.” Concerns have been raised about the reliability of answers due to potential issues in the training data, including toxicity, incorrect information, bias, and racism sourced from the X platform.