Xai Gork Course increase: Sell investors with insider knowledge
On Saturday, the prize for The New Xai Gork (Gork) experienced a remarkable increase of 200%, making it one of the most powerful cryptocurrencies. The course skyrocketed to $ 0.04832, which increased market capitalization to over $ 48 million.
It is particularly striking that the Gork price increase was accompanied by a high trading volume. The 24-hour volume rose to $ 274 million, which corresponds to 5.7 times the market capitalization. This indicates that crypto investors rely on a continuation of the rally out of fear of missing something (Fomo).
The cause of this upswing may be in the connection of the coin to Elon Musk Xai company, a leading player in the AI industry. Xai even took over X, the company, which was previously known as Twitter, and thus achieved an assessment of over $ 130 billion.
The AI product of Xai bears the name Grok, which explains why the abbreviation of The New Xai Gork Gork is.
Nevertheless, there is a risk that the Gork price will break down in the coming days. According to Nansen data, the number of “Smart Money” owners fell from 28 on May 1 to 24, while their stocks decreased from almost 98 million to 76 million.
Another risk is that new meme coins often experience an initial price push before they drop as soon as insiders start to sell. A prominent example of this is Donald Trumps official TRUMP and the Melania token. These meme coins rose sharply after their introduction, but dropped a few days later.
Their value fell by over 80% of her high, which cost investors billions of US dollars. Other well-known meme coins such as Mother Iggy (Mother), Vine (Vine) and Daddy Tate (Daddy) also experienced initial flights before falling.
According to the Nansen data, most of the most profitable dealers have started selling their Gork tokens. The most profitable dealer made a profit of $ 783,000 and has already sold $ 781,000. The situation was similar with the second-profound dealer who made $ 461,000 and sold all token. Most top winners have repelled their tokens.
