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New Cryptocurrency Drops as a Stand Against Elon Musk’s Influence on the Digital Market

Cryptocurrency Users Retaliate Against Elon’s Latest Tweet Against Bitcoin with a New Coin Called $STOPELON

After many ups and downs in the cryptocurrency circle, a new coin has dropped against the biggest promoter of cryptocurrency; Elon Musk. This new coin, the $STOPELON coin is retaliation against Elon’s latest tweet on Bitcoin. He stated that Tesla, who once accepted and acknowledged Bitcoin as a suitable payment for their vehicles, would no longer be recognizing it.

He has also been advocating the ‘meme’ coin Dogecoin with increasing ferocity, even mentioning it on his interview at the Saturday Night Live show. He says that there is a likely chance cryptocurrency will be the new currency of the future, and many different currencies are likely to rise.

Dogecoin’s entrance into the seriously considered crypto-grid takes an ironic turn on its primary creation since it was a joke about the relevance of cryptocurrency. To see it become a stabilized means of transactions would be at the least, astonishing.

He has smartly advised the public not to invest their savings into any sort of cryptocurrency as it is highly unwise to do so.

Elon Musk has shown great influence over the Cryptocurrency ratings, as proven by his latest tweet. The aftereffect of his actions was a rapid decline in value for Ethereum, Dogecoin, and Bitcoin, with depletion rates in the double digits. This has been labeled as ‘The Musk Effect’ by cryptocurrency advocates and users. This action is detrimental to an already unstable digital developing industry since China has already declared and reaffirmed their statement that they will be accepting no such digital currency as applicable for transactions.

This coin was created on the blockchain Binance Smart Chain and is currently being traded at $0.00005600 with a market capitalization of around $30 million according to Poocoin. Elon’s actions have resulted in a sharp decline in crypto assets, and his credibility is thrown out of line.

Though this coin is being regarded as ‘just another meme coin’, the creators, miners, and traders of this coin are taking it very seriously. Their official website for $STOPELON reads: “A community created to stop the biggest market manipulator of them all.”

$STOPELON is already being actively traded, and when released received an immense jump in value from $0.0000019 to $0.00009450, a 4874% increase in a mere 24 hours. They claim that the new $STOPELON coin won’t be controlled by Musk’s tweets in any way.

The official $STOPELON webpage further expresses their frustration and ambition to shake Elon Musk’s hold on the cryptocurrency market. They claim that he has been abusing his influence on the cryptocurrency market through careless tweets.

“Just recently he did it again, causing a massive crash across all frontiers when he tweeted that Tesla will cease to accept Bitcoin as payment. Anyone with even a shred of critical thinking sees through his lies. He has been trying to pump crypto for ages, tweeting about it to no end, and even going on Saturday Night Live as a final resort to get Dogecoin up! It’s ridiculous!” – stated on the $STOPELON official webpage.

The $STOPELON coin can be attained through an app called Trust Wallet or any other which is compatible with the SWAP platform PancakeSwap.

The rise and fall of cryptocurrency shall continue, though many may not appreciate hearing what Elon Musk’s take is now that he has fallen from the strongest supporter to the creator of its pitfall. How Bitcoin and other currencies will pick up is yet to be discovered.

Written By: Leah Latif

Reported By: Ehtisham

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