In the latest Libra coin news, Argentina President Javier Milei introduced a Libra crypto coin named $LIBRA, claiming it was a private initiative to support Argentina’s economy. However, within just five hours, the project suffered a massive Libra coin crash, erasing a staggering $4.4 billion from the market.
The event is now being questioned as Is This the Biggest Rug Pull in Crypto History? leaving traders devastated and questioning the future of Libra token price.
Crypto traders who aped into $LIBRA were left in disbelief as the Libra crypto price collapsed within hours. One whale, identified as 62KQa, bought 659,000 $LIBRA tokens for $2.5 million, at an average price of $3.79 per token. Just an hour later, the trader panic-sold all holdings for a mere $392,000, realizing an 84.32% loss.
This massive Libra crypto Solana coin crash highlights the risks of memecoins and the dangers of pump-and-dump schemes, where early investors or insiders cash out, leaving retail investors trapped in losses.
Following the Libra coin crash, the Libra coin price prediction looks grim. The LIBRA/SOL price action suggests a manipulated pump-and-dump scheme.
Initially, the Libra token price spiked to 4.62 SOL, only to plunge below 0.2 SOL within hours.
With the Libra crypto price in freefall, analysts believe the token is unlikely to recover.
Many traders are now questioning whether this was a legitimate economic initiative or a well-orchestrated exit scam.
The controversy surrounding Libra token news deepened when Argentina’s President Javier Milei endorsed $LIBRA on X (formerly Twitter), calling it a private project to fund small Argentine businesses and startups. However, his post was deleted within hours, raising red flags across the crypto community.
Did President Milei truly believe in the Libra crypto coin, or was it a well-planned pump-and-dump? As of now, no official government statement has addressed the $4.4 billion market wipeout.
One major concern is why $LIBRA was primarily traded against Solana (SOL) instead of more stable cryptocurrencies like Tron (TRX) or HTX. This decision contributed to the Libra crypto Solana coin crash, as Solana-based memecoins have been highly volatile in recent months.
Crypto analysts suggest that using highly speculative tokens for new projects significantly increases market risks, making price manipulation easier. The collapse of $LIBRA is now being used as an example of why traders should diversify their holdings and avoid chasing hype.
The Libra token news is making waves across the crypto world, with many questioning whether the Libra crypto coin was ever meant to succeed. The Libra crypto price prediction suggests that the Libra coin price may never recover from this historic crash.
The question remains:
Was $LIBRA a genuine attempt to boost Argentina’s economy, or was it a deliberate rug pull by insiders?
For now, the Libra token price continues its downward spiral, leaving Libra crypto news flooded with warnings for future investors.
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