Libra and Melania Memecoins Stir Controversy in the Crypto Market – BitRss

In the crypto market, the Libra and Melania memecoin projects are gaining significant attention. Hayden Davis, CEO of Kelsier, confirmed the launch of both tokens. However, Libra’s value sharply declined after Argentine President Javier Milei retracted his earlier statements, raising concerns about the transparency and functionality of these projects.

Impact on Libra and Melania Tokens

Libra was introduced following Milei’s announcement to support small and medium-sized enterprises. However, his subsequent reversal on this statement led to a staggering 95% drop in the token’s value. Davis defended the volatility, asserting that the project is not malicious in intent.

Conversely, the Melania memecoin was promoted in connection with Melania Trump, the wife of the U.S. President. Immediately after its launch, automatic purchasing transactions were activated, leading to the accumulation of a large number of tokens. There are concerns that these automatic purchases may manipulate the token’s value.

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