Argentina President Javier Milei retreated to a tweet promoted by Memecoin called Libra, who grew to a $ 4.4 billion market cap before he fell by more than 95%.
In the now deleted tweet, Milei initially wrote: “This is a private project dedicated to encouraging the growth of the Argentine economy,” together with the address of the Solana Treaty associated with the scales of scales.
The scales increased by more than 2000% in a 40-minute range after tweet, only to quickly collapse as a group of early owners began to enter.
The X account Kobeissiletter has shared a series of Bubblemaps screen shots showing that alleged “insiders” liquidate by adding one-sided kiss pools to the meters with just a scales, allowing them to remove Sol and Stablecoin.
The scope of trading scale reached $ 1.1 billion after launch, although the purchase and sale seemed to be distorted; There were 74,500 individual orders to buy and 28,900 sales – indicating that higher sales orders prevented the noise of retail activities.
Later, Milei addressed the X -Mecoin on X, stating that “he was not aware of the details of the project.”
“A few hours ago, I posted Tweet, as I have so many other times, supporting the supposedly private company with which I obviously have no connection,” Milei wrote. “I was not aware of the details of the project and after becoming aware of it, I decided not to continue to spread the word (that’s why I deleted Tweet).”
Sales in Libra that passed the wider memecoin market and Trump lost $ 500 million from his market cap, According to market datain a period of 30 minutes after the scale began to fall.
