Because the Libra rug-pull scandal rocks the crypto world, merchants are questioning whether or not this may truly profit the costs of sure names within the meme coin area, just like the TRUMP coin.
Over the weekend, Argentinian President Javier Milei took to X to advertise a cryptocurrency referred to as Libra, which supposedly aimed to boost 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 challenge insiders stays to be seen.
Cardano founder Charles Hoskinson stated in a video streamed on Sunday that Milei was misled by advisers referring to the coin, which was doubtless 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 improvement, the opposition in Argentina is asking for Milei to be impeached.
In the meantime, a federal Argentinian decide is about to research the saga, information which despatched Argentinian shares reeling on Monday.
The story has dominated headlines in crypto this week, and its not a very good search for the business, which has struggled to beat an affiliation with “crime” and “scams” since its inception.
May 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 latest 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 girl’s meme coin, have been uncovered.
Bubblemaps lately revealed a thread on X presenting proof for the connection.
1/ How $LIBRA was created by the identical group 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 actually 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 recommend 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 can have doubtless forgotten about all of this inside a couple of weeks.
All it’ll take is for a couple of sturdy days of worth motion, and meme coin merchants will doubtless begin FOMOing again into TRUMP coin fairly shortly.
Higher Various 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 at all times be trying to diversify their holdings.
One thrilling new meme coin that ought to be on their radar is a challenge referred to as Meme Index (MEMEX).
In contrast to typical meme cash using hype alone, Meme Index gives a decentralized fund that bundles the most popular meme tokens into 4 volatility-based baskets—from steady giants like Dogecoin to wild moonshots.
This diversification slashes threat 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 reduce—assume community-driven beneficial properties 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 sensible 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.