The New XAI Gork price surged on Monday as the weekend rally triggered fear of missing out among retail investors.
New XAI Gork (GORK) token jumped to $0.07, extending a rally that began on Friday when it bottomed at $0.01443. It has now surged nearly 400%, giving it a market cap of over $70 million.
The GORK price soared as demand for the coin spiked. According to CoinGecko, its 24-hour trading volume rose to over $205 million, more than three times its market cap.
Another sign of FOMO is the increasing number of GORK token holders. According to SolScan SolScan, it has now accumulated over 24,000 holders, a notable milestone considering no major tier-1 exchange has listed it. Most of its trading activity is happening on exchanges like Gate, Meteora, Bitget, and MEXC.
GORK price is rising because of the recent demand for AI-focused cryptocurrencies. For example, Virtuals Protocol (VIRTUAL) has surged by over 300% from its lowest level this year. Tokens on its ecosystem, like GAME and aixbt, have also jumped recently.
The token also jumped because its name mimics that of Elon Musk’s company, xAI. xAI’s main product is known as Grok, one of the fastest-growing ChatGPT rivals. Its ticker, GORK is derived from that Grok name.
xAI has raised over $12.1 billion, and most recently, it acquired X, formerly known as Twitter, creating a company valued at over $113 billion.
However, it’s unclear whether the GORK price will continue climbing. Historically, new meme coins tend to surge in their early days before crashing when momentum fades. This crash usually follows heavy selling by insiders and early investors. Indeed, Nansen data shows that smart money holders have already started to offload their tokens.
New XAI Gork price analysis
The 30-minute chart shows that GORK reached a record high of $0.095 over the weekend before pulling back. On Monday, it was trading at $0.066, hovering just above the lower boundary of the ascending channel connecting Friday’s lows.
The token has now formed a head and shoulders pattern, along with a large rising wedge—a well-known bearish reversal signal. As a result, GORK will likely drop and retest the key support level at $0.035, the lowest swing from Sunday.
That said, shorting a new token like GORK carries risk, as it could short-squeeze if major exchanges such as Binance or OKX announce listings.
