Argentina’s LIBRA token, promoted by President Milei, plummeted 89% due to legitimacy concerns.
Traders suffer massive losses; investigations reveal a potential pump-and-dump scheme by the LIBRA team.
The recent launch of Argentina’s $LIBRA token has been making headlines in the market. The Solana meme coin promoted by the official tweet of Argentina’s President Javier Milei, known as LIBRA, collapsed.
The coin first reached a market cap of $4.5 billion, but due to uncertainties about its legitimacy, it plummeted to approximately 90%. As per the data of DexScreener, LIBRA’s price reached a high of $4.50 after launching, and collapsed to the level of $0.50. Moreover, the meme coin has a trading volume of $1.1 billion.
Following the token’s dramatic 89% crash, Milei deleted his tweet and issued a statement clarifying his stance. He stated that he had unknowingly supported what he believed to be a private enterprise and had no connection to the project. After l
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