Because the Libra rug-pull scandal rocks the crypto world, merchants are questioning whether or not this would possibly truly profit the costs of sure names within the meme coin house, just like the TRUMP coin.
Over the weekend, Argentinian President Javier Milei took to X to advertise a cryptocurrency known as Libra, which supposedly aimed to lift funds for small companies and start-ups in Argentina.
Nevertheless, quickly after Milei’s tweet, insiders shortly dumped the token and it misplaced practically all of its worth. Milei quickly deleted the coin.
Whether or not Milei was in on the scheme or tricked into selling the coin by unscrupulous mission insiders stays to be seen.
Cardano founder Charles Hoskinson stated in a video streamed on Sunday that Milei was misled by advisers regarding the coin, which was probably pitched to him as a good suggestion, and maybe in comparison with TRUMP coin.
Whereas the Presidential workplace has acknowledged that Milei was under no circumstances concerned within the crypto’s growth, the opposition in Argentina is looking for Milei to be impeached.
In the meantime, a federal Argentinian decide is about to analyze the saga, information which despatched Argentinian shares reeling on Monday.
The story has dominated headlines in crypto this week, and its not a superb search for the trade, which has struggled to beat an affiliation with “crime” and “scams” since its inception.
Might the Fallout Profit TRUMP Coin?
With meme cash again within the headlines this week amid the continued Libra scandal, may this truly show to be a bullish catalyst for TRUMP coin?
Unlikely. TRUMP coin is already down over 13% on the week, and, final at $16.20, may quickly retest its current lows within the $14 space.
No affiliation between the creators of TRUMP coin and Libra have but been uncovered. Nevertheless, hyperlinks between Libra and MELANIA, the primary woman’s meme coin, have been uncovered.
Bubblemaps not too long ago revealed a thread on X presenting proof for the connection.
1/ How $LIBRA was created by the identical workforce behind MELANIA and different short-lived cash
That includes new onchain proof
A thread with Coffeezilla↓ pic.twitter.com/gNwj97KapF
— Bubblemaps (@bubblemaps) February 17, 2025
Does that imply MELANIA can be a rug pull in ready? It’s chart definitely appears like its already been simply that, with MELANIA final buying and selling round $1.25, down over 90% from its post-launch report highs above $13 per token.
Nevertheless, affiliation with a meme coin scandal like LIBRA may considerably dent MELANIA’s worth going ahead.
There isn’t any on-chain or in any other case proof to counsel TRUMP can be linked. Nevertheless, that doesn’t imply “rip-off” FUD gained’t additionally injury demand for TRUMP going ahead.
That stated, the TRUMP model is such a powerhouse that the majority meme coin merchants may have probably forgotten about all of this inside just a few weeks.
All it should take is for just a few sturdy days of value motion, and meme coin merchants will probably begin FOMOing again into TRUMP coin fairly shortly.
Higher Different to TRUMP Coin – Meme Index (MEMEX)
One main criticism of TRUMP coin is the tokenomics distribution, which closely favors early traders, insiders and Trump himself.
The coin may carry out very nicely within the years forward, however meme coin traders ought to all the time be trying to diversify their holdings.
One thrilling new meme coin that must be on their radar is a mission known as Meme Index (MEMEX).
Not like typical meme cash driving hype alone, Meme Index presents a decentralized fund that bundles the most well liked meme tokens into 4 volatility-based baskets—from secure giants like Dogecoin to wild moonshots.
This diversification slashes danger whereas maximizing upside, a uncommon combo on this chaotic market. With over $3.7 million raised in its presale and staking APYs hovering previous 600%, early traders are already hooked.
Plus, MEMEX holders get governance energy, voting on which cash make the minimize—assume community-driven features with built-in rip-off safety.
Backed by stable audits and a buzzing social presence, Meme Index isn’t simply one other fleeting meme—it’s a wise play in a $120 billion sector.
Study Extra About MEMEX Right here
The put up Libra Scandal Rocks the Crypto World – Will TRUMP Coin Profit From the Fallout? appeared first on Cryptonews.
