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The Gorklon Rust price pumped 15K% in the last 24 hours to trade at $0.0005968 as of 3:05 a.m. EST, with trading volumes surging to $20 million.
The surge comes after Elon Musk changed his X handle to “gorklon rust” on Sunday and tweeted, “sup @grok.”
sup @gork
changed my pp to urs wdyt
— gorklon rust (@elonmusk) May 4, 2025
The name seems to be in reference to GROK, the AI chatbot from Musk’s company xAI, and Rust, the programming language that is reportedly part of xAI’s technical infrastructure.
Musk also updated his profile picture to what appears to be a distorted version of the Grok logo.
Gorklon Rust Price Aims For A Bullish Trend Reversal
The recent Gorklon price action shows a clear short-term bearish trend. After a strong upward move peaking near $0.002079, the Gorklon Rust price has since retraced sharply, moving below several key Fibonacci levels.
Gorklon price action has consistently formed lower highs and lower lows, which is a textbook sign of downtrend continuation. Currently, the price of Gorklon Rust is hovering near $0.0005986, close to the 0.786 Fibonacci retracement level at $0.0004523, indicating deep retracement from recent highs.
The 50 Simple Moving Average (SMA) on the 15-minute chart is positioned well above the current price at $0.00106803, reinforcing the bearish momentum as the price remains decisively below both the 50 and 200 SMAs.
Meanwhile, the Relative Strength Index (RSI) is at 42.80, reflecting a weak momentum state, neither oversold nor strong enough to suggest imminent bullish reversal.
Given the current bearish momentum, deep retracement levels, and lack of bullish indicator signals, Gorklon/USD is likely to continue its downward trajectory in the short term. A retest of the 0.786 Fibonacci level or even lower towards 0.0004523 is plausible.
However, given the oversold RSI, the price of Gorklon could undergo a bullish trend reversal, with the $0.0008002 (0.618 Fib Level) being the next target.
Meanwhile, investors are flocking to buy a new Solana project called Solaxy (SOLX). Popular YouTube channel 99Bitcoins, with over 725K subscribers, says the crypto has the potential to soar 100X post-launch.
Solaxy Presale Races Towards 34 Million – Next 100X Crypto?
Solana’s speed and low fees are well-known, but reliability at scale has been its Achilles’ heel, especially when compared to Ethereum. While Ethereum leans on Layer-2s to manage network load, Solana has gone at it alone.
Enter Solaxy, the first native Layer-2 solution for Solana, built to solve its growing congestion and scalability issues.
With Solaxy, Solana could finally unlock sustained growth and developer confidence without compromising the performance it’s famous for.
The project aims to address Solana’s network congestion issues by implementing off-chain processing mechanisms similar to Ethereum’s Layer-2 solutions.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
This model has already successfully scaled a blockchain through platforms like Arbitrum and Optimism.
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system enhances overall efficiency.
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s Layer-1 capabilities.
The project has already raised over $33.1 million through its ongoing presale, signaling strong market demand at this early stage.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001714 each using BNB, ETH, USDT, or a bank card.
Solaxy also offers holders who stake SOLX a huge annual yield of 121%.
Interested investors will want to buy SOLX before the next presale price hike in around 9 hours to secure the best deal.
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