What’s is it? It’s a meme cryptocurrency which was created by some very angry people.
What do you mean? A community of crypto traders launched $StopElon in 2021 because they were fed up with Elon causing chaos and disruption in the market every time he tweeted about crypto. They wanted to create a currency that wouldn’t be affected by anything he said.
They are not big Elon fans then? It would be fair to say that. They wrote on their website: “Anyone with even a shred of critical thinking sees through his lies. He’s toying with people’s portfolio like candy, like the narcissistic billionaire he is and always will be. We say ENOUGH.”
Is it true about his tweets disrupting the market? Well he does have previous. When Elon tweeted that Tesla would no longer accept payment in Bitcoin, the currency fell by nearly 17%. And when he said he was going to talk about Dogecoin on Saturday Night Live, the price rocketed – but then dropped like a stone when he made jokes about it on the show.
So what happened when $StopElon launched? The price increased by over 4,000 per cent in a day, giving it a market cap of around $30 million.
Wow that sounds impressive. So how is it doing now? Er, its currently trading at just $0.000000592806, down 98% from its all-time high.
Oh dear. Indeed. It’s fair to say that it’s not being influenced by anything Elon or anyone else says right now.
But did it stop Elon from tweeting about crypto? Don’t be daft, no-one can stop Elon from tweeting about crypto. Not even Elon.