Senator Karen Coin Skyrockets 2,448% in Value in 24 Hours Thanks to Twitter Spat Between Elon Musk and Senator Elizabeth Warren
When Elon Musk tweets, the next big thing in the world of memes and cryptocurrencies is almost always right behind it. Senator Karen Coin is the target of our attention this time. According to DEXtools.io, the value of $KAREN has seen a phenomenal increase of 2,440 percent in the preceding twenty-four hours.
Why The Senator Karen Coin Exists
Elon Musk has been selected as the “Person of the Year” for 2021 by both Time magazine and FT.com. Musk is the inventor of Tesla Motors and SpaceX. The cryptocurrency community has also named him the Dogefather of Dogecoin. As a result of all of the press he is generating for cryptocurrency, Musk has amassed a sizeable fan base on social media and inside the crypto world. Not only for Doge, but also for the idea of Bitcoin treasuries and for his recognition of the potential long-term worth of cryptocurrencies in general as an asset class.
Despite this, some people do not like Elon Musk. It would appear that Senator Elizabeth Warren of the United States does not care for him very much. Warren is a Democrat who represents the state of Massachusetts. She recently made headlines when she accused Musk of “freeloading,” maintaining that the newly minted richest man in the world should be paying more taxes than he is currently paying. Warren is the state representative for the state of Massachusetts.
In a tweet that he wrote on Monday, Warren addresses Elon Musk directly as follows:
“Let’s modify the rigged tax code so that the Person of the Year will pay taxes and cease freeloading off of everyone else,” is an example of a possible solution.
Musk’s response was a string of tweets that sparked a frenzy on the site, including the following one:
“…And if you open your eyes for two seconds, you will understand that this year I will pay more in taxes than any other American citizen in the annals of our country’s history.”
The final part of Musk’s response was a tweet that read, “Please don’t call the management on me, Senator Karen.” Consequently, Senator Karen Coin’s motivation came to be as a result of this.
Why the Core Concepts That Drive Senator Karen Coin’s Legislation Have Value
The group of people who are working on the Senator Karen Coin project have their sights set on members of Congress who seem eager to stifle innovation in the Web3 space and who view decentralised finance and non-traditional currencies as posing a risk to the conventional financial system. Senator Elizabeth Warren was reportedly cited as saying that “DeFi is the most dangerous component of the crypto world.” This is something that the project’s founders point out.
It would appear that she is going to be the name and face of an NFT project that attempts to hold Congress accountable by immortalising individuals who oppose DeFi in a way that is permanent on the blockchain. When the first NFT for Senator Karen Coin is officially minted, the entire world will be able to find out about it on Friday, December 17th at 23:59 UTC.
How the Senator Karen Coin Will Help Pay for Non-Profit Organizations
Ironically, the developers of Senator Karen Coin have decided to levy a 3 percent tax on all transactions. The funds from this tax will be used to scale, market, and develop Senator Karen Coin as well as any NFTs that immortalise other politicians who are opposed to the decentralised finance and non-fiat currency movement. The total supply of $KAREN tokens that will ever be created is capped at over 6.942 billion units at all times. On the day the project was launched, December 14, 2017, $KAREN tokens were trading with four decimal places of precision. As this article is being written, the price has been traded down to three decimal places, and it is currently sitting at $0.0001247. Within its first 15 hours on the blockchain, the project had a total trading volume of $6 million and a market valuation of $900,000 when it was all said and done.
The main point is to call public workers to account and provide the cryptocurrency community with a new avenue for growth and development. The project has the potential to be beneficial not only to users who hold onto the NFTs, but it also has a wider social cause, and it embeds itself in a current quarrel that deals with a recurring challenge democratic countries have been grappling with for a very long time. figuring out how to efficiently tax the wealthiest while yet giving them what they deserve.
However, this isn’t something that concerns the typical crypto phile in any way, shape, or form. It appears that Senator Karen Coin will not be investigating Elon Musk after all. It is simply informing public servants that DeFi is intended to be a liberating force for the individual, and that despite the fact that it is clearly disrupting the traditional financial institutions that run America and the rest of the world, it is not ultimately a threat to capitalism. This is despite the fact that DeFi is clearly disrupting the traditional financial institutions that run America and the rest of the world.
Be on your guard around Senator Karen Coin. It is headed at Senator Elizabeth Warren and anyone else who wants to question the genuine worth of the innovations brought about by decentralised finance and non-fiat currencies. Regardless of whether or not Elon Musk pays taxes.