Flurry of GROK Tokens Surge and Dive in Crypto Speculation Frenzy

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Over the weekend, nearly 400 different GROK tokens were released by anonymous developers, inspired by Grok, an AI chatbot service by social application X. These tokens, created on Ethereum and other blockchains, quickly gained attention and reached a combined market capitalization of tens of millions of dollars. While some early bettors saw significant gains, others experienced losses as some developers "rug pulled," removing liquidity from their tokens, resulting in cumulative losses of more than $1 million for speculators. These speculative tokens are reminiscent of previous trends where opportunistic players created tokens based on various topics, but they often ended up losing most of their value.

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