Twitter has suspended the account of the popular memecoin-linked artificial intelligence-powered bot, “Explain This Bob,” following allegations of being a “scam crypto account” made by Elon Musk.
The bot, which utilized OpenAI’s GPT-4 model to comprehend and respond to tweets, had amassed over 400,000 followers before its suspension. The project’s association with the ERC-20 memecoin Bob Token (BOB) further exacerbated the situation, causing the token’s price to plummet by over 30%.
The allegations and suspension
On June 18, Elon Musk took to Twitter and accused the Explain This Bob account of being a scam crypto account in reply to the bot. The account was suspended shortly after Musk’s tweet, leaving it’s substantial following bewildered. Musk tweeted:
“This sure looks like a scam crypto account. If so, it will be suspended.”
This suspension contradicted Musk’s earlier tweet on April 20, where he had expressed his fondness for the bot, declaring, “I love Bob.” The suspension, however, did not extend to the Bob Token account on Twitter.
Musk’s concerns and observers’ reactions
Observers speculate that Musk’s accusation stems from his belief that Explain This Bob was being utilized as a marketing tactic to inflate the price of BOB artificially. Many in the crypto community have taken to Twitter, using the hashtag #FREEBOB, to express their support for the bot and to argue that BOB is not a scam coin.
— Bob (@BobEthToken) June 18, 2023
The community asserts that the token’s launch was conducted fairly and that BOB is fully decentralized, featuring a 0% tax mechanism. Some supporters even pointed out that the team did not allocate any tokens or airdrops to themselves before the token launch in April.
Impact on BOB and humorous response
The suspension of the Explain This Bob account immediately impacted the price of the associated memecoin. According to CoinGecko, the price of BOB plummeted by over 30% following the announcement. However, Twitter’s inaction regarding the Bob Token account allowed the project’s team to respond humorously to the situation.
According to CoinGecko, the BOB token is changing hands at $0.00001928, a 6.6% drop in the past 24 hours and a 1.74% decline in the past 7 days. At press time, BOB has a circulating supply of 690 Billion BOB, while its market cap is at $13,298,651.
BOB/USDT daily chart, source: CoinGecko
The future of Explain This Bob and Bob token
As the Twitter suspension leaves the future of Explain This Bob uncertain, the project’s team and its supporters are left pondering the next steps. The backing the bot had amassed and its innovative use of OpenAI’s GPT-4 model made it a unique presence in the crypto community. Meanwhile, the fate of Bob Token remains unclear, with investors hoping for a recovery in its price.
With its use of OpenAI’s GPT-4 model and association with the memecoin Bob Token, the bot had garnered significant attention and followers.
While the hashtag #FREEBOB trends on Crypto Twitter, supporters argue that BOB is not a scam coin and emphasize its fair launch and fully decentralized nature. As the project’s team and investors await further developments, the future of Explain This Bob and Bob Token remains uncertain.