URGENT – Did the Rug Pull of $LIBRA Sign the Death of Memecoins?

Are we currently witnessing the death of the mecoins? It’s become anything, we’re going to talk about it today because there’s a rug sweater, maybe the biggest rug sweater in history, which will be resounding and will have a negative impact on the mecoins, but even on the crypto ecosystem. We’re going to talk about it, stay with me because we’re really going to develop here the genesis of a memecoin project, the aberration behind it and especially the money everyone makes. I’ll show you a little bit about the process, we’ll do this together.

Back to the mecoins: do you know the mecoins? At the base, there was Doge, after there was Shiba, then PP Bonk, WIF, Dogwifhat, and it became anything. It became the narrative of the bull run 2024-2025. For now, we’re talking too much about it because it’s in a bad press, it has a bad image. Let’s see why.

Let me remind you, 48 hours before his inauguration, Donald Trump launches his token. What were we at? A 654 launch according to CoinGecko. Here, we went up to a capitalization of several tens of billions, I think about 15-20 billion. But we went up to $72 and now we’re $20. So big big fall. After its peak, the token was divided by 3. If we take his wife, Melania, who launched 24 hours after her husband’s launch, Melania launched her token. It went up to $12, today 1.33. I’ll let you do the math.

The Central African Republic is also being taken. We’re up to 0.56 and there’s 0.01. I’ll let you do the math, a disaster. What image do we give? In short, and there, Javier Milei, who is the Argentine President pro-crypto, so we could ask ourselves questions: are there other governors, other heads of state that are going to create their mecoin? But if, Javier Milei, sorry, and well we are told that after 5 hours, Javier Milei’s token, thus head of state of Argentina, launched his token called Libra, but it’s a mecoin. Within just 1 hour, the market capitalization of this token, the Libra, reaches more than 4 billion market cap. 4 billion market cap and after 5 hours, the Libra cleans over $4.4 billion in market cap. What happened? We’re going to do a lot together because it’s super important if you want to invest in the mecoins or if you’ve invested in the mecoins, you need to watch this video.

The Genesis of Memecoins

Mecoins started with Dogecoin, a project that was originally a joke. However, he quickly gained popularity and paved the way for other mecoins like Shiba Inu, PP Bonk, WIF, and Dogwifhat. These projects have often been launched without real utility, but with strong community and aggressive marketing. The narrative of the bull run 2024-2025 was dominated by these mecoins, but today they are losing speed because of their bad image and numerous scandals.

The Rug Pull of $LIBRA

The rug sweater from $LIBRA may be the biggest in history. Launched by Javier Milei, the Argentine president pro-crypto, the token has reached a market capitalization of more than $4 billion in just an hour. However, within 5 hours, it lost over $4.4 billion in market cap. This rug sweater had a negative impact not only on the mecoins, but also on the crypto ecosystem as a whole.

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The rug sweater of $LIBRA has highlighted the dangers of mecoins and malicious crypto projects. Behind the scenes, many people are unaware of the manipulations taking place. Let’s take what happened. After the wave of animal-based mecoins or personalities like Trump, we begin to see mecoins rotating around great political figures. We got Trump, the token of the Central African Republic, and now Javier Milei. How about a token from Elon Musk at some point? It’ll happen, in my opinion, and there will be other personalities, too.

At first, it was thought that Javier Milei’s Twitter account had been hacked, but finally, it was confirmed by several Argentine politicians who shared the news. The project was dedicated to encouraging economic growth in the country by financing small projects. This reminds the Central African Republic, which crashed completely after a few hours. The website referred to a Google Form where people entered information, but a few hours later, everything went wrong. The site was created a few hours before the launch, and the insiders, those who knew about the project first, started selling. According to Bubble Maps, $87.4 million was cashed in the first three hours, and 82% of the token Libra was held in a single cluster. No tokenomics was shared with the public.

The problems started when the insiders added liquidity pools unilaterally, only with Libra, without putting US dollars or soil into it. It is a common technique in scam projects, also called rug sweaters. Everyone buys, then for a while, insiders sell. Instead of selling directly on the market, they are gradually withdrawing US dollars and Sol from liquidity pools, thus avoiding immediate sales pressure. Once $87.4 million was withdrawn, there were no longer enough buyers to support the market, resulting in a drop of over 90% in the price of Libra. This type of manipulation shows the importance of analysing the activity of insiders and liquidity movements before investing. Since the launch of Libra, several large holders have liquidated their positions.

The Manipulations of the Insiders

Insiders, those who were aware of the project first, began to sell massively. According to Bubble Maps, $87.4 million was received within the first three hours. 82% of Libra token was held in a single cluster, which means that a person or group of people controlled the majority of tokens. No tokenomics was shared with the public, which is an obvious sign of manipulation.

Rug Pull Technique

Insiders have added liquidity pools unilaterally, only with Libra, without putting US dollars or Sol into it. It is a common technique in scam projects, also called rug sweaters. Everyone buys, then for a while, insiders sell. Instead of selling directly on the market, they are gradually withdrawing US dollars and Sol from liquidity pools, thus avoiding immediate sales pressure. Once $87.4 million was withdrawn, there were no longer enough buyers to support the market, resulting in a drop of over 90% in the price of Libra.

The Importance of Analysis

This type of manipulation shows the importance of analysing insider activity and liquidity movements before investing. Since the launch of Libra, several large holders have liquidated their positions. Understanding liquidity movements and checking tokenomics before engaging in a crypto project is crucial.

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The rug sweater of $LIBRA caused a massive collapse of the mecoins market, resulting in huge losses for investors. Millions of dollars have been siphoned, allowing insiders to realize astronomical gains. The capitalization of $LIBRA reached a high of $4.6 billion before collapse abruptly at 1740 EST. This fall was marked by a massive and sudden sale, absorbed mainly by small buyers.

Details of the Flood

The collapse of $LIBA was characterized by a massive sale where only 27% of transactions were sales. Large sales were absorbed by smaller buyers, probably individual traders. For each seller, there were two buyers, and the trade volume exceeded $1.1 billion. This has highlighted the risks associated with market concentration in the hands of a few insiders.

The consequences on the Memecoins market

The collapse of $LIBRA resulted in a massive loss of confidence in the mecoins. Over $6 billion in capitalization has been erased in just 3 hours. This event also affected other tokens, such as the Trump token, which lost $500 million in capitalization. More than 50,000 portfolios have acquired LIBRA dollars, which has led to a massive collapse of liquidity in the mecoin market.

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