Bubblemaps claims that the same team stands behind LIBRA and MELANIA
Bubblemaps analysts are “highly confident” that the Libra (LIBRA) memecoin and the Melania (MELANIA) token were launched by the same team, raising fresh concerns about market manipulation and “pump and dump” schemes.
The findings come after detailed onchain analysis uncovered striking similarities in the transactions behind both launches, reports Cointelegraph.
Evidence of Coordinated Sniping Activity
According to a February 17 post on X by Bubblemaps analysts, a Solana wallet address, dubbed “0xcEA,” appears to have been responsible for “sniping” the launch of Melania Trump’s memecoin on January 19, generating $2.4 million in profits before transferring the funds to another wallet on Avalanche. Weeks later, the same 0xcEA wallet was found to have funded the address that created the LIBRA token.
Following LIBRA’s launch on February 15, the wallet again executed sniping activities—this time clearing $6 million in profit using multiple side addresses funded through crosschain transfers from Arbitrum and Avalanche. The consistent pattern of transactions, including a series of funding and crosschain transfers parsed through several Solana wallets, strongly indicates that the same team, or someone closely associated with it, was behind both token launches.
Market Fallout and Broader Implications
The LIBRA token, which was endorsed by Argentine President Javier Milei at launch, rapidly crashed—losing nearly 94% of its value in under four hours as insiders reportedly cashed out over $107 million. Lookonchain data reveals that at least eight wallets linked to the LIBRA team siphoned liquidity, extracting $57.6 million in USDC and 249,671 Solana (valued at $49.7 million).
Similarly, the official MELANIA token, which briefly peaked at a market valuation exceeding $13 billion, has since slumped 99% to $189 million. Bubblemaps also noted that the 0xcEA wallet is connected to other high-profile “pump and dump” launches, including a fake Robinhood (HOOD) token that rallied to a peak market cap of $120 million before falling dramatically.
These revelations intensify scrutiny of celebrity-backed meme coins and raise questions about transparency, tokenomics, and regulatory oversight in the volatile crypto market.
Recently we wrote, that Argentine President Javier Milei is facing sharp criticism from opposition lawmakers after promoting the little-known cryptocurrency LIBRE.
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