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- Musk’s Twitter musings caused a stir in crypto markets, with investors selling their investments
- Markets plunged to February lows and currently consolidates at $40k levels
- Elon had the potential of influencing cryptocurrencies of his choice, but $STOPELON is out there to stop him in his path
Around the start of the decade, Elon Musk was a messiah for crypto enthusiasts who would follow his tweets and invest in the digital currency. Who would have thought that a movement will be carried out to stop him from hurting investors’ sentiments the world over. $STOPELON is a digital currency that went from $0.0000019 to $0.00009450 within 24 hours—a massive growth of 5000% of a meme coin over an ex-messiah for millions.
How it went from Bitcoin to Dogecoin to $STOPELON
Musk was supportive of cryptocurrency, including Bitcoin, until last week when something struck him. A lot of his tweets made everyone realize that Bitcoin does exist in this world. Soon investors increased multifold for the digital currency. Prices touched the roof as it did a high of $61k just the previous month.
Next up was Dogecoin, which is basically a meem coin based on a dog named Shiba Inu. Musk repeated the story and tweeted in favor of Dogecoin. Investors did believe him and prices yet again shot the roof. It was only last week that Musk realized the harmful effects that mining has on the environment. Soon the billionaire retraced his comments that Bitcoin will be accepted at Tesla and even gave hints that led to investors believing that the company had sold its Bitcoin investment for a huge profit.
It was time $STOPELON entered the markets
Petrified with his stance regarding digital assets, a group of validators initiated creating a digital currency named $STOPELON. His tweets have only led to speculative trading that has hurt investor sentiments and millions being wiped out from exchanges across the globe. Bitcoin fell nearly 40% this week and gained support against $40k for some time before falling yet again.
Market experts want to hedge against his influence on cryptocurrency and mannerisms on social media. The meme coin gained sufficient market cap on its first day in trading. As of this writing, it already has a market capitalization of $24.9 million.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
