LIBRA Meme Coin Promoted By Argentina President Javier Milei Linked To MELANIA, Other Pump-And-Dumps, Bubblemaps Says

The LIBRA meme coin, initially promoted by Argentina’s President Javier Milei, was likely created by the same team behind MELANIA and multiple other pump-and-dump tokens, Bubblemaps says.

Bubblemaps analysts said in a Feb. 17 thread on X that new on-chain evidence suggests the LIBRA team, or someone close to them, were also behind the launch of Official Melania Meme (MELANIA), the meme coin tied to US First Lady Melania Trump. The analysts added that the same team likely also sniped both tokens.

Wallet That Sniped MELANIA Netted $6 Million Profit Snipping LIBRA

Shortly after its launch, the LIBRA token briefly rose to a market cap of $4.56 billion at 10:30 p.m. UTC on Feb. 14, boosted by the endorsement of Argentina’s Milei.

But it quickly plunged more than 94% to a $257 million market cap just 11 hours after its debut on decentralized exchanges. Milei withdrew his backing, but now faces calls for impeachment by opposition politicians in Argentina.

Bubblemaps placed the spotlight on a Solana wallet dubbed “0xcEA” as the address responsible for sniping MELANIA on Jan. 19, earning $2.4 million profits as a result. This address then transferred the gains to another wallet on the Avalanche blockchain.

According to the analysts, the Solana and Avalanche wallets are linked by several unique paths. This includes multiple different funding transactions and cross-chain transfers. 

5/ There are multiple ways to connect 0xcEA with the creator of MELANIA, through funding txs and cross-chain transfers.

We’re confident these aren’t coincidental pic.twitter.com/Z3eOIx6GgX

— Bubblemaps (@bubblemaps) February 17, 2025

Weeks after sniping MELANIA, the analytics firm noticed that the same 0xcEA address then sniped LIBRA for a $6 million profit. The Bubblemaps analysts concluded that this near identical sniping activity on 0xcEA, coupled with USDC Cross-Chain Transfer Protocol (CCTP) funding patterns, indicate that both LIBRA and MELANIA were launched and sniped by the same team.

Links To Previous Pump And Dumps

The analysts added that their research uncovered many token launches linked to the 0xcEA address. 

9/ But there’s more to the story. We’ve detected many token launches linked to 0xcEA, most of which are clear pump and dumps. Here’s some of them:$TRUST, $KACY, $VIBES — and even $HOODhttps://t.co/zTFYGU2uep

— Bubblemaps (@bubblemaps) February 17, 2025

Projects such as TRUST, KACY, VIBES and HOOD, which the Bubblemaps analysts said are “clear pump and dumps,” have all been linked to the wallet.

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