A new crypto aptly named STOPELON has been created as a means of stopping Elon Musk from influencing the volatile crypto markets with his Twitter account. Yet another one is Elonmute. Their aim: “to destroy the biggest market manipulator of them all”.
The crypto community is at war against Elon Musk with a new project aiming to lift his role as Tesla Inc.’s CEO. The community has termed the tweets by Musk as “irresponsibly manipulating”.
Launched as the latest viral crypto, STOPELON Coin surged 512% in a day after the crypto community gets into a fight with Elon Musk. The coin came as a reaction to the crypto market fluctuations that are caused by Elon Musk’s tweets. The coin has a sell/buy cap of 1 billion coins.
StopElon plans to use the capital raised through the project to access full control of Tesla’s stock and fire Elon Musk from the post of CEO. The developers also took some extra steps to make the coin attractive to investors. The steps included destroying 40% of the token’s supply and then distributing 6% of the transaction fees back to the token owners.
The developments follow Musk’s recent announcements on Dogecoin and Bitcoin, which dramatically altered the value of both currency stocks.