A new cryptocurrency called StopElon coins surges after bitcoin backlash by Tesla Founder and CEO, Elon Musk. This project aims to raise enough money to take control of Tesla stock. This new cryptocurrency has grown by 1,800% in value within 24 hours as part of a backlash against Elon, who had a greater influence on bitcoin running upwards with a series of tweets via his Twitter account.
Earlier, the Tesla and SpaceX CEO was considered an ally by the cryptocurrency faithful as the firm was accepting bitcoin payments. However, some changed their minds after Musk revealed that Tesla would no longer be accepting payments in bitcoin. This incident prompted them to launch their own protest cryptocurrency- with the ultimate goal of taking control of Tesla.
StopElon coins emerged as a token minted on the Binance Smart Chain. The value of this latest protest crypto coin has increased from $0.0000019 to $0.00003679 in just 24 hours. Though that is still closely worth nothing as a single US dollar could buy 27,180 $StopElon coins, as per the Dogecoin enthusiasts when it comes to investing- it is the gains that matter over the size of an individual coin price.
StopElon has already started accumulating wider value with a market cap of above $17 million after two days. The total StopElon supply shows nearly 50% of coins made available for purchase while about 40% has been burned and removed from the circulation. And for the rest, about 5% each for the wallet and marketing of the developer.
The official website of StopElon lists ambitious, albeit appropriately meme-like goals for this project protesting Musk. It includes creating enough value to buy Tesla stock, with the ultimate plan to purchase full control of the company owned by Elon Musk.
Before the Tesla news of no more accepting bitcoin payments, the Dogecoin-loving Musk was seen as an incredibly influential, meme-sharing billionaire adored among crypto enthusiasts. Tesla’s move in January to buy up $1.5 billion worth of bitcoin (BTC) and also accept the cryptocurrency as payment for electric cars seemed to affirm this notion.
However, all this changed when Elon shared that Tesla had changed its viewpoint on bitcoin considering the impact on the environment due to its energy-intensive mining model. He tweeted that Tesla will no longer accept BTC as payment. The company will wait to transact using cryptocurrency in the future when “mining bitcoins transitions to more sustainable energy.”
Just as the original announcement of Tesla in January 2021 helped send Bitcoin’s price soaring to new heights, their reversal tweet led to crashing the value of bitcoins by 22%. Now the current value of BTC is around $43,386 and many other top cryptocurrency performers have followed suit.
Since then, Musk has affirmed his belief in the potential of cryptocurrencies and tweeted working with Dogecoin developers to improve its transaction efficiency. Though not all cryptocurrency has similar kind of energy-intensive mining demands, some alternative eco-friendly coins by designs include Chia (XCH) and Nano (NANO).
StopElon is a new cryptocurrency with one aim: to stop Elon Musk from manipulating the crypto market with his tweets. After Elon Musk’s latest tweets caused a drop in bitcoin prices people have realized that he must be stopped. StopElon is seen more as a protest than a cryptocurrency. For the past few months, Elon Musk has influenced the crypto market as per his will. StopElon is here to put an end to that. The price of StopElon has surged by 550% with the current market cap at $13 million and it seems this will not stop until it ousts Elon Musk as the CEO of Tesla.
StopElon coin is available on Pancakeswap, to buy the tokens you'll need BNB. Purchase BNB from binance.com. Now, you need a wallet to store your StopElon coins, we suggest metamask.io. Go to Pancakeswap using the link, ensure that the selected currencies are BNB and StopElon. Enter the amount of token you would like to purchase, then click on the swap button. Congrats now you have successfully bought $StopElon crypto. You can check the latest prices of StopElon tokens at poocoin.app or dex.guru.
StopElon has a total supply of 1,000,000,000,000 $StopElon tokens. Being a deflationary currency no more StopElon coins will be minted. Each transaction of StopElon has a 10% tax. Half the tax is automatically added to the liquidity pool and the other half goes to the holders of the coin. StopElon is currently trading at $0.0000341507 which has increased from $0.00001607 in just 24 hours. Total holdings of StopElon are worth 870.39 BNB ($370,838), and the current market cap is $17 million.
$StopElon is the new cryptocurrency being created on the blockchain Binance Smart Chain which is currently trading at around 0.00005600 with a market capitalization of approximately $30 million. Since the launch of this new crypto coin, other cryptocurrencies from bitcoin including Ethereum to Dogecoins had massively tanked after Elon Musk tweeted that his company will no longer accept bitcoin for transactions due to their energy-intensive mining model. His tweets have caused a sharp decline in crypto assets.
It is in this backdrop that a set of crypto traders has launched $StopElon, whose prices are claimed to be not controlled by the tweets from Elon Musk. They call themselves a community created to destroy the biggest market manipulator- Musk.
Anyone with a bit of critical thinking can see through Musk’s lies, as has been trying to pump cryptocurrency for ages with his tweets, and even going to Saturday Night Live (SNL) as a final resort to get Dogecoin up. He is toying with people’s portfolios like the narcissistic billionaire he is and always will be, says the official website of StopElon. And this what created the $StopElon with the website saying where we get rich, without anyone controlling our fate except ourselves.
According to a cryptocurrency enthusiast working in the field of decentralized finance, this is another meme coin created by some random traders and serves no purpose. It has become a fashion to hate Musk after his series of irresponsible tweets on cryptocurrency that led to him losing his credibility. Some people want to express dissent while making money, and they are now doing so by actively trading $StopElon coins.