The hacker group anonymous has released a new video announcing the launch of the cryptocurrency called Anon Inu. The token is designed to fight against Elon Musk, Tesla’s chief executive. Due to the decentralized nature of the hacker organization, it is not clear whether it has issued new tokens in suspicious name.
The purpose of the token is to fight Elon Musk, the Billionaire CEO of Tesla in the “meme war” and China “in the crypto war”:
We believe that crypto is just getting started, so we have released the Anon Inu token a new DeFi community token with various built-in utilities.An anonymous group
An anonymous group posted a video on YouTube to fight Elon Musk & China with their own new anonymous Anon Inu coin.
In their video, Anonymous takes a few swings starting with China and the CCP squeezing Bitcoin, miners, crypto owners, and everyone in between. Their plan is to launch its own cryptocurrency, the digital Yuan, and once this is done there will be no other currencies accepted within its borders. Who else thinks a communist regime with one of the worst Human Rights records on the planet controlling the global money supply would be a bit of a problem?
A YouTube channel “Anonymous” with more than 180k subscribers posted a video about their move to launch a new coin “Anon Inu”. They informed all their subscribers, they are making their new coin because want fight Elon Musk in ” Meme coin war” and also they want fight against China in ” Crypto ban war”. The Anon Inu coin has it’s own website, replete with a Star Wars themed background, and the token has been created on the Binance Smart Chain.
The whitepaper suggests an interesting token economic system, with 1 Quadrillion max supply, and 5% being distributed to token holders when a buy or sell transaction is made. Furthermore, the liquidity pool gains 5% for each buy transaction, and 5% is burned when a sell is initiated. It’s less complicated than it sounds! The project is being developed by veteran dev Harshil Jain.
At the beginning of June 2021, Elon Musk got a warning from the Anonymous hacker community to cease manipulating crypto market.
China was such an attractive location for miners because energy was so cheap, especially in remote locations that were close to hydroelectric dams. Up until recently, China has been happy to allow Bitcoin miners in the country, but the CCP government is now planning on launching its own currency, the digital Yuan, and they are no longer allowing any competing currencies within its borders.
This resulted in a huge drop in the Bitcoin price through the month of May, Bitcoin miners in China were being forced to move, which means that they had to sell a lot of their coins to cover expenses.
This sell-pressure created a downward movement in the markets that we are still working to climb back from. Even though this crackdown focused specifically on Bitcoin, the whole crypto market was negatively affected because every crypto asset still follows the trajectory of Bitcoin.
There is hope though, because this situation is only temporary.
The Bitcoin miners that were located in China have already begun moving to nearby Kazakhstan, and other parts of the world. As the prices have been low, institutional investors and whales have been buying the dip in the over-the-counter (OTC) markets.
In over the top markets, rich people can buy cryptocurrencies without raising the prices. These are private sales that happen off of exchanges. However, this does take crypto out of circulation, which results in a massive price spike once the market factors in the additional scarcity.
Over the past few weeks, the markets have leveled out and are now moving sideways, which means that one day is up, another day is down, but overall, the price stays within a close range. This is known as consolidation, which is typically a positive sign for the markets. Many crypto experts are predicting that things will start to pick back up by the end of July for a huge rally in August.
Now, it will be interesting to see how the crypto community will respond this new anonymous coin Anon Inu. As of now it somewhat seems likable.