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Elon Musk himself links the account to certain criminals:
“It certainly looks like a fraudulent crypto account.. If so, it will be blocked,” the billionaire explained.
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The value of BOB dropped from $0.000031 to $0.000016 after this announcement. Now, on Monday afternoon, June 19, the coin is trading at $0.000019.
According to Coingecko, BOB has traded at approximately $7 million in the last 24 hours. The figure is down almost 65% from Sunday, June 18.
BOB at $0.000218 was the highest price ever recorded in May. The current price is 91% lower, writes Coingecko.
The @ExplainThisBob account quickly went viral on Twitter in late April thanks to witty tweets and comedic responses. Musk once responded @ExplainThisBob “I love Bob,” which contributed to a rapid jump in prices.. Since then, Musk has interacted with the bot several times. Most recently, in June, he tweeted, “Once again, Bob hit the mark,” in response to a political discussion.
Earlier, investors went to federal court in Manhattan, claiming Musk used his online influence to manipulate the rate of the meme cryptocurrency DOGE. The billionaire wrote tweets and used Influencers to promote Dogecoin, and in 2021 he talked about memcoin on NBC’s Saturday Night Live. These “publicity stunts” allowed Musk to trade DOGE coins profitably, the plaintiffs believe;