Meme Coin BOB Tanks 45% After Elon Musk Calls its Twitter Bot Account a 'Scam'

Prices of meme coin bob (BOB) slid arsenic overmuch arsenic 45% connected Sunday arsenic its fashionable automated Twitter bot was suspended aft the societal media giant's proprietor Elon Musk called the relationship a “scam."

Twitter adjacent suspended different automated bot called @AskTheWassie, a comic frog that operated likewise to @ExplainThisBob connected Sunday.

“Promotion of scams nether the guise of being a funny/helpful bot volition effect successful suspension. Doesn’t substance however overmuch you wage us,” Musk tweeted.

Data shows BOB prices rapidly fell from $0.000031 to $0.000016 connected Sunday arsenic traders apt reacted to Twitter’s actions, reaching a marketplace capitalization of $13 million. As such, the tokens person been successful a astir continuous descent since aboriginal May, erstwhile they reached a highest capitalization of $74 million.

The automated @ExplainThisBob relationship rapidly went viral connected Twitter successful precocious April for its witty summaries and comedic responses to tweets. Musk erstwhile replied “I emotion bob” to an @ExplainThisBob successful April, aiding a speedy terms surge astatine the time.

Musk has since engaged respective times with the Bob bot. He tweeted arsenic precocious arsenic June that “Once again, Bob nails it,” successful effect to a governmental discussion.

However, Musk said past week that Twitter would ace down and suspend accounts that seemed to “game its verification system” and “self-promote oregon advertise successful a misleading way.”