The prices of $PNDC and $PORK dropped by more than 10% after the social media platform X, formerly known as Twitter, suspended the accounts affiliated with these projects and their supporter, Pauly0x. This incident sent shockwaves through the crypto community, eliciting mixed reactions from enthusiasts and investors alike.
Jeremy Cahen, better known by his online pseudonym Pauly0x, is no stranger to controversy. He has been involved in several high-profile disputes within the Web3 space, notably accusing the Bored Ape Yacht Club of having Nazi affiliations, a claim that led to legal action.
Recently, Pauly0x’s account, along with those of his projects PondOx ($PNDC) and PORK ($PORK), was suspended for violating platform rules. This action triggered varied responses from the crypto community. While some celebrated the ban, others expressed concern over its impact on free speech and the ensuing financial consequences for the projects.
Following the suspension, a Twitter user posted a screenshot of the ban with the caption, “things you love to see.” Ethereum co-founder Vitalik Buterin responded humorously, referencing Elon Musk’s physics expertise, suggesting that Twitter’s action was in line with the “Pauly exclusion principle.“
Despite the ban, supporters of Pauly0x quickly rallied. A Change.org campaign titled “Reinstate Pauly0x on Platform X” garnered 429 signatures out of a targeted 520 at the time of writing. This movement highlights the divided opinion within the community regarding the suspension.
The financial repercussions of this suspension were immediate and significant. Pond Coin ($PNDC), an Ethereum-based meme coin, saw its price drop by 12.51%, trading at $0.00000009. Similarly, Pepe Fork ($PORK), another Ethereum-based meme coin, experienced an 11.67% decline, trading at $0.00000009.
Supporters of Pauly0x argue that the suspension was unjust and detrimental to the projects’ valuations. They raised questions about Elon Musk’s commitment to maintaining X as a platform for free speech, especially when such actions have tangible financial impacts.
The crypto community remains divided on the issue, with many calling for the reinstatement of Pauly0x’s accounts while others believe the suspension was warranted. As the situation unfolds, the broader implications for the crypto market and online speech continue to be debated.
