Elon Musk collapsed the value of cryptocurrency by 45% in one tweet

Billionaire Elon Musk has once again caused changes in the value of digital assets. This time, Musk crashed the price of the BOB memtoken.

BOB’s value fell by 45% in a day after the owner of Twitter announced the blocking of the project’s account on the social network. Elon Musk linked the account to criminals: «It certainly looks like a fraudulent account. If so, it will be blocked,» the billionaire wrote.

After this tweet, BOB’s value plummeted — by 45% in a day and 70.4% in 30 days.
According to Coingecko, BOB’s trading volume over the past 24 hours is approximately $ 4.9 million. The figure is down almost 65% compared to Sunday, June 18.

The @ExplainThisBob account went viral on Twitter in late April, all thanks to witty tweets and comedic responses. Musk once replied to @ExplainThisBob: «I love Bob,» which contributed to the token’s jump in value. Since then, the billionaire has interacted with the account several times.

As a reminder, investors filed a lawsuit in Manhattan federal court claiming that Musk used his influence on the Internet to manipulate the price of the DOGE cryptocurrency. The billionaire tweeted and used influencers to promote Dogecoin, and in 2021, he spoke about the token on NBC’s Saturday Night Live. These publicity stunts allowed Musk to trade DOGE coins profitably, the plaintiffs claim. However, Musk denies all allegations.