Following the hot mud-up between Tesla and SpaceX CEO Elon Musk and Bitcoin following Musk’s resolution to slump obtain with the cryptocurrency — which resulted in mass selloffs of Bitcoin holdings — a fresh cryptocurrency has emerged that targets to forestall Musk’s manipulation of Bitcoin stock.
Aptly named STOPELON, the currency turned into once created solely to forestall Musk from wielding have an effect on over the cryptocurrency’s price. It follows Dogecoin’s fresh balloon in price after Musk tweeted particular reports of the cryptocurrency, which now trades at $0.487 per part — up by 1.5 percent over the final week.
STOPELON looks to forestall this from going down again.
“Elon Musk is immoral for irresponsibly manipulating the cryptocurrency market with his Twitter account,” the founding crew writes. “He’s toying with folks’s portfolio indulge in sweet, indulge in the narcissistic billionaire he is and constantly will seemingly be. We deliver ENOUGH. Attributable to this truth, we created $STOPELON.”
STOPELON has a opt/promote cap of 1 billion coins.
Whereas the cryptocurrency is now now not making mountainous market moves, it represents a higher public disapproval of Musk’s feedback and have an effect on racy the already unstable cryptocurrency markets. Tesla stock itself fell over the weekend following Musk’s enhance of Dogecoin.
Working with Doge devs to lend a hand system transaction efficiency. Doubtlessly promising.
— Elon Musk (@elonmusk) May maybe well maybe maybe 13, 2021
Thanks to its relative surge in price, cryptocurrency buying and selling platform Coinbase reportedly confirmed it will in all probability maybe maybe work to list Dogecoin for the length of the next six to eight weeks.
In a more conservative turn, Musk now now not too long within the past retweeted an interview with TMZ where he informed caution in investing in cryptocurrencies.
“Cryptocurrency is promising, but please make investments with caution!” he wrote.