MELANIA Memecoin May Be Linked to the LIBRA Token, Blockchain Intelligence Platform Bubblemaps Reveals

Blockchain intelligence platform Bubblemaps and internet investigator Stephen “Coffeezilla” Findstein have identified a possible link between the teams

Blockchain intelligence platform Bubblemaps and internet sleuth Stephen “Coffeezilla” Findstein have uncovered a possible link between the teams behind the recently launched LIBRA token and the MELANIA memecoin.

According to Bubblemaps, a wallet connected to MELANIA’s creator also funded the wallet responsible for launching LIBRA.

The investigation revealed that this wallet was involved in sniping activity, a practice where tokens are bought within seconds of their launch, often using insider knowledge.

Bubblemaps reported that this wallet withdrew over $87 million in liquidity from LIBRA and executed a $6 million snipe.

Further findings suggest that the same entity may have been involved in previous projects such as TRUST, KACY, VIBES, and HOOD.

Among the key figures behind the projects, crypto key opinion leader (KOL) Hayden Davis of Kelsier Ventures has openly admitted to his involvement in the LIBRA token launch.

During an interview with Coffeezilla, Davis also acknowledged his involvement in the MELANIA token but denied any role in the HOOD project. When questioned about MELANIA, he responded,

“I was part of it.”

Regarding the sniping activity, Davis suggested that the team expected such activity based on similar events during the launch of TRUMP, the memecoin associated with former U.S. President Donald Trump.

Moreover, Davis stated that the liquidity removed from LIBRA was not for personal profit, but part of a broader strategy to stabilize the token.

He claimed that reducing liquidity was meant to prevent large investors from selling off their holdings immediately.

However, many investors and analysts remain skeptical of this claim.

Following reports of insider activity, بازار price for LIBRA token experienced a steep decline.

Initially reaching a market capitalization of over $4 billion, the token has since dropped to $94,397,755, incurring a loss of more than 90%, based on CoinMarketCap data.

Meanwhile, MELANIA also saw a price decrease, trading at $1.3 at the time of writing and reflecting a 2.3% drop for the day. While this decline could be part of a broader market correction, concerns over the team’s involvement in multiple controversial projects have raised doubts among investors.

In a bid to address investor concerns, Davis has committed to returning an estimated $100 million from LIBRA’s liquidity pool within the next 48 hours.

However, skepticism persists regarding the future of the project.

On the political front, Argentina’s President Javier Milei has faced pressure over his endorsement of the LIBRA token. Opposition leaders have called for his impeachment, and the situation has reportedly led to a fraud lawsuit against the president.

Milei has denied direct involvement in the token’s development, stating that he was unaware of specific details. Following the controversy, he withdrew his support, further fueling uncertainty surrounding the project’s legitimacy.