• BOB is an AI chatbot created by Indian programmer Prabhu Biswal in April 2023.
• The chatbot was initially embraced by Twitterati and Elon Musk, leading to the value of the BOB token rising by 5%.
• However, accusations of scamming led to Musk suspending the AI and its token to a 45% plunge in price.
What Is BOB?
BOB is an AI chatbot created by Indian programmer Prabhu Biswal in April 2023. It operates on the ERC-20 network and was designed as a tweet explainer with 400,000 followers. It presents itself under the moniker “ExplainThisBob” and can navigate through Twitter lingo to provide concise explanations for tweets.
Initial Success of BOB
At first, the Twitter community welcomed BOB as it provided a useful service to users. This eventually caught the attention of Elon Musk who showed approval towards it on his own Twitter account. This caused the value of BOB to increase by 5%.
Musk Suspends BOB
Unfortunately, this success was short lived when Musk accused the AI of being a scam in June 2023 and Twitter suspended it soon after. This sudden distrust for AI likely played into his decision making process and resulted in an abrupt halt for BOB’s activities on Twitter.
The Aftermath Of Suspension
As expected, this unexpected u-turn from Musk had an impact on its token. The price plunged by 45%, demonstrating how much influence he has over cryptocurrency markets with just one tweet alone.
The Future Of Meme Coins
Meme coins will continue to come and go all the time but each one will inevitably end with some kind of bang or shockwave like what happened with BOB token’s suspension due to accusations of scamming. While there are always risks involved when investing in meme coins, their entertaining speculative qualities make them worth looking into anyways!