While memecoin discussions intensified after US President Donald Trump released his own token, another move came from Argentine President Javier Milei.
On that note, Milei supported the newly launched memecoin LIBRA by posting on X a few days ago. Following Milei’s recommendation, the token rose to nearly $5 before falling below $1 within hours.
This sharp decline has led to allegations of a potential “rug pull and scam,” a scheme in which developers increase the value of a token before abandoning it.
As the controversy surrounding Milei and LIBRA continues, blockchain analysis platform Bubblemaps has claimed that the team behind the launch of Trump’s wife Melania Trump’s own token, the MELANIA memecoin, is also behind the Libra (LIBRA) token.
Bubblemaps analysts have stated that they are very confident in the evidence that the LIBRA memecoin was launched by the same team that launched MELANIA.
At this point, it was reported that the addresses associated with the creation of the MELANIA token were also associated with the controversial token LIBRA.
Analysts said the detected relationship means that MELANI’s creator or someone close to its team is blocking its own launch.
“The same team is behind LIBRA, MELANIA and other short-lived tokens.
After analyzing cross-chain transfers and timing patterns, we are fairly confident that this prediction is correct.
It all started with our investigation into sniper activity on MELANIA. One address stood out: address P5tb4, which made over $2.4 million in profits, sent all of its profits to 0xcEA, a wallet associated with the creator of MELANIA. There are multiple ways to connect 0xcEA to the creator of MELANIA, including fund transfers and cross-chain transfers, and we’re confident these are no coincidences.
This means that Melania's creator or someone close to her team may have been personally involved in the attack on her own project's launch.
A few weeks later, we realized that 0xcEA was funding DEfcyK, the creator of LIBRA, who withdrew 87 million LIBRA.”
Analysts also recently noted that they detected many tokens associated with the suspicious “0xcEA” address, saying that most of them were clearly pump and dump. Examples of these were “TRUST, KACY, VIBES and HOOD.”
1/ How $LIBRA was created by the same team behind MELANIA and other short-lived coins
Featuring new onchain evidence
A thread with Coffeezilla 🧵 ↓ pic.twitter.com/gNwj97KapF
— Bubblemaps (@bubblemaps) February 17, 2025
*This is not investment advice.
