Bubblemaps, the blockchain analysts claim they’ve uncovered some pretty wild connections between the teams behind the Melania and Libra meme coins. Could it be that a single entity orchestrated both of these wild rides?
It’s a big club, and we ain’t in it?
Bubblemaps alleges that wallets linked to the creator of the Melania token were also dipping their toes into the Libra token, engaging in some serious sniping and profit-taking.
Sniping refers to quickly buying up a bunch of tokens right when they launch to capitalize on the initial price rise.
Few days ago Libra burst onto the scene with a presidential seal of approval from Argentina’s Javier Milei, only to see its price skyrocket and then crash back down to earth in a matter of hours.
Insiders reportedly cashed out $107 million in trading fees and liquidity pool funds, leaving many investors high and dry.
The Melania token, endorsed by the former First Lady, followed a similar trajectory, experiencing a rapid rise and fall.
Same but different, but still the same?
Bubblemaps believes a single entity is pulling the strings behind both projects.
“There’s been speculation that MELANIA and LIBRA are tied to the same team, but without solid proof—until now. After analyzing cross-chain transfers and timing patterns, we’re highly confident this is the case.”
The smoking gun, according to Bubblemaps, is the activity of a Solana wallet, “P5tb4,” which raked in over $2.4 million by sniping Melania tokens.
These funds were then transferred to an Avalanche-based EVM wallet, “0xcEA,” which is directly linked to Melania’s creator through funding transactions and cross-chain transfers.
Reportedly, the 0xcEA address had been funding DEfcyK, the main creator wallet of LIBRA. Further analysis suggests that other tokens, like TRUST, KACY, and VIBES, might also be under the control of this same entity.
It seems like this entity has been manipulating multiple tokens for a long time.
Political connection
Amid these revelations, President Milei is facing fraud charges related to his involvement with the Libra project after the token’s price plummeted. Milei denies any prior knowledge of the project’s inner workings.
As the plot thickens, Bubblemaps and other analysts are on a mission to uncover the mastermind behind these operations, in cooperation with YouTuber CoffeeZilla.
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