Step 1: Understanding the Concept:
Diphthamide is a unique modified amino acid.
It is found in eukaryotic elongation factor 2 (eEF2).
Step 2: Key Formula or Approach:
No specific formula.
Need to understand the role of diphthamide.
Step 3: Detailed Explanation:
Diphthamide is a modified histidine residue found in eEF2.
It is a post-translationally modified amino acid.
Thus, Statement I is correct.
Diphthamide is the target of diphtheria toxin.
The toxin ADP-ribosylates diphthamide.
This modification prevents translocation of the polypeptide chain.
Thus, Statement II is also correct.
Therefore, both statements are correct.
Step 4: Final Answer:
Both Statement I and Statement II are correct.
Hence, the correct option is (C).