I. Musk's Meme Coin Legacy: From DOGE to GORK's Iteration

1. The "Immortal Myth" of DOGE

Since Musk's strong promotion of Dogecoin (DOGE) in 2021, its market capitalization has consistently remained in the top ten. In May 2025, DOGE's price fluctuated around $0.16. Although Musk's influence has waned in recent years, news of his attendance at the Saudi-U.S. Investment Forum still propelled DOGE to rise by 7% in a single day. The market consensus holds that DOGE remains a symbol of Musk's status as the "King of Meme Coins," but its volatility has decreased from 30% daily fluctuations in 2021 to 5%-10%.

2. The Rise and Fall of New Favorite GORK

• Viral Explosion: In early May 2025, Musk changed the nickname of the X platform to "Gorklon Rust" and updated his avatar to a Grok AI-themed image, directly driving the market cap of the Solana-based meme coin GORK from $45 million to $75 million, but it quickly fell back to $35 million.

• Liquidity Dilemma: With a total supply of 1 billion GORK, the top 100 wallets control 58.8% of the supply, and selling pressure from large holders makes it difficult for the price to sustain. Despite being listed on exchanges like Gate.io and KuCoin, its lack of practical applications has reduced it to a target for short-term speculation.

II. AI-Driven Token Experiments: The Fleeting Moments of DRB and GrokCoin

1. The Controversy of Grok's "Self-Issued Token"

In March 2025, Musk's AI model Grok participated in the issuance of the DebtReliefBot (DRB) token, suggesting the token name and sparking market frenzy. The price of DRB once skyrocketed by 965%, but then plummeted after Grok denied involvement in its promotion, ultimately settling at a 167% increase. This event exposed the regulatory vacuum surrounding the combination of AI and cryptocurrency and raised community concerns about "robots manipulating the market."

2. The Trend of GrokCoin

After Grok suggested naming it "GrokCoin," the similarly named token on the Solana chain saw its market cap exceed $30 million within two hours, but the lack of direct endorsement from Musk led to a rapid price decline. Such projects rely on AI narratives, but their actual value is nearly zero, becoming tools for institutions to harvest retail investors.

III. The X Platform and "National Strategic Reserves": The Compliance Narrative of Bitcoin and DOGE

1. The Cryptocurrency Ambition of the X Platform

At the beginning of 2025, leaked code from the X platform revealed plans to integrate Bitcoin and DOGE as core payment options. Coupled with Musk and the Trump administration's "National Strategic Bitcoin Reserve" plan, Bitcoin once surged past $95,000, and DOGE's market cap returned to seventh place. If the X payment function is implemented, Bitcoin could become a core asset for institutional allocation, while DOGE could occupy the small payment scene due to its low transaction fees.

2. Potential Catalysts from the Saudi Summit

From May 13 to 14, Musk attended the Riyadh Investment Forum, where the deployment of $600 billion in capital could involve cryptocurrencies. BlackRock CEO Larry Fink's Bitcoin ETF plans and Zuckerberg's metaverse initiatives will drive ETH to continue breaking through.

IV. Market Immunity and Risk Escalation: The Diminishing Marginal Influence of Musk

1. The "Drug Resistance" of Meme Coins

In 2025, Musk's social media maneuvers had a significantly reduced impact on the market. For example:

• KEKIUS Case: At the end of 2024, Musk's name change led to a 3000% surge in KEKIUS, but after reverting to his original name, the price plummeted by 97%.

• HARRYBOLZ Failure: The token's market cap triggered by a name change in February 2025 was only $9.5 million, far from DOGE's glory.

1. Liquidity Dispersion and Regulatory Pressure

• Proliferation of Meme Coins: Platforms like Pump.fun launch hundreds of new coins weekly, dispersing capital inflows.

• Increased SEC Scrutiny: The U.S. Securities and Exchange Commission has recently initiated investigations into "tokens with no real utility," putting projects like GORK at compliance risk.

V. Investor Strategies: Finding Alpha Between Frenzy and Rationality

1. Capturing Short-Term Opportunities

• Event-Driven: Pay attention to Musk's tweets, X platform dynamics, and developments from the Saudi summit; DOGE breaking through $0.20 could trigger a short squeeze.

• Technical Signals: If GORK stabilizes above $0.05 (support level on the Solana chain), it may rebound to $0.07.

1. Long-Term Risk Hedging

• Core Asset Allocation: Bitcoin (50%) + ETH (30%) + Stablecoins (20%), avoiding the liquidity traps of altcoins.

• Options Protection: Buy put options at high strike prices for Bitcoin to hedge against geopolitical black swans.

Conclusion: The Final Chapter of the Musk Era and the Emergence of New Narratives

In the 2025 cryptocurrency market, Musk remains an undeniable "narrative engine," but his influence is shifting from "deification" to "toolification." The dramatic rises and falls of tokens like GORK and DRB reveal the speculative nature of meme coins; meanwhile, the strategic integration of the X platform and Bitcoin suggests an accelerated penetration of cryptocurrencies into mainstream finance. Investors need to be wary of high volatility and maintain clarity amid the frenzy—after all, Musk's tweets can ignite the market but cannot assign value to a bubble.