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Elon Musk Suspends Account Linked to BOB Meme Coin, Leading to 30% Value Plunge

June 19 (Cointime) - Elon Musk, the CEO of SpaceX and Tesla, has caused a 30% drop in the value of the BOB meme coin by suspending an account associated with it. The BOB token is an ERC-20 meme coin that powers a Twitter reply bot called Bob, which explains tweets in simple terms.

Although Bob has gained popularity among Twitter users due to its witty replies, the BOB token lacks a strong use case or inherent value proposition, leading to accusations of being a scam. Musk had previously engaged with the account, @ExplainThisBob, which has been accused of promoting scam cryptocurrencies, and questioned its legitimacy in a tweet before suspending it.

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