Grok rockets as token price jumps 55% amid chatbot buzz

Grok (CRYPTO:$GROK) experienced a surge in value, climbing 55.05% to a price of $0.005285, driven by anticipation surrounding Elon Musk's AI chatbot launch.

The market has reacted to news that Grok 3, developed by Musk's xAI, is about to enter the competitive AI chatbot arena, challenging established players like OpenAI's ChatGPT and Google's Gemini.

Musk has characterised Grok 3 as the "smartest AI on Earth.”

The upcoming launch has stirred predictions about Grok's potential.

One forecast suggests the price of Grok will increase by 42.03% and reach $0.007727 by Feb. 23, 2025.

MEXC projects a price of $0.00291 for Feb. 12, 2025.

3Commas projects that Grok could reach a maximum level of $0.0032128364 in 2025.

BitScreener estimates Grok to increase to $0.000002668 in 2025.

xAI, despite securing $6 billion in funding from various investors, is considered a smaller player compared to OpenAI, which declined a $97.4 billion acquisition offer from Musk.

Past events have shown the volatile nature of Grok-related assets.

In November 2023, copycat tokens saw rallies, with some surging by 30,000%.

The value of the Grok token, along with the fortunes of xAI, appear closely tied to Elon Musk, who has faced both successes and challenges across his various ventures.

At the time of reporting, the Grok ($GROK) price was $0.005646.