Elon Musk’s Meme Coin Power Is Losing Its Punch

Elon Musk’s ability to spark explosive meme coin rallies appears to be wearing thin.

His latest social media stunt — adopting the name “Gorklon Rust” and switching his profile picture to match — gave a brief boost to a Solana-based token named GORK, but the momentum didn’t last.

GORK peaked around a $75 million market cap after Musk’s post, only to drop back quickly, highlighting a pattern seen in several of his recent crypto shoutouts. In early 2025, a token tied to his “Harry Bōlz” gag barely reached $10 million. Even “Kekius Maximus,” which gained some traction in late 2024, topped out below $90 million. None of them broke the $100 million barrier — a far cry from the days when a single Musk tweet could add billions to Dogecoin.

Analysts now question whether his crypto influence is still relevant. Despite a social reach of over 200 million, even Musk’s most outlandish gestures are struggling to ignite lasting rallies. One trader remarked that today’s fragmented meme coin scene, flooded with clones and low-effort cash grabs, has diluted the power of any individual endorsement — even his.

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Adding to the problem are the instant knockoff tokens that appear on platforms like Pump.fun, each siphoning off investor interest and eroding trust. When every meme becomes a dozen cheap imitations, even Musk’s magic struggles to stand out.

While he can still generate buzz, the data suggests the meme coin space has moved on. Flashy stunts might stir short-term excitement, but turning that into serious value is no longer guaranteed — not even for Elon Musk.

Alexander Stefanov