A single tweet from Elon Musk has become a hot topic for allegedly causing a Solana meme coin to skyrocket. On February 27, when he posted “Gork is coming back today,” this Gork meme coin reportedly rose by more than 520% in a single day.

Its market cap also reportedly jumped from under $1 million to $14 million. Honestly, this kind of move is a bit abnormal. The Musk effect really is something else. However, Gork isn’t an official xAI project—it’s a community-led meme coin on the Solana blockchain. In other words, speculators trying to capitalize on brand overlap jumped on it all at once.

What’s especially interesting is that around the middle of 2025—when Musk also changed his display name to “Gorklon Rust”—the market cap of this meme coin had at one point exceeded $70 million. After that, it had been calming down, but this latest post brought it back to life again.

But isn’t this basically the typical “boom and bust” cycle? Meme coins often reach their highest prices when social media attention is at its peak, and then they frequently crash sharply afterward. In fact, when you look at the current liquidity and trading volume, the hype isn’t continuing at the same level as it was then.

Most of the trading happens on decentralized exchanges, where users typically buy and sell using SOL or stablecoins. It’s precisely because Solana has fast infrastructure with low fees that these kinds of surges become possible.

The world of meme coins is truly unpredictable. The fact that so much can move on a single tweet makes this firmly a high-risk, high-reward territory.