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Despite the fluctuations in the market, the LIBRA meme coin remains a topic of interest. Supported by Argentine President Javier Milei, the project has recently encountered significant value losses. Gabor Gurbacs from VanEck believes that LIBRA can rebound despite these challenges, attributing potential recovery to the President’s vision for a free-market economy that encourages innovative moves in the cryptocurrency sector.
LIBRA Meme Coin Suffers Major Losses
Shortly after its launch, the LIBRA token experienced severe value declines. Allegations of fraud surrounding the project have shaken investor confidence, particularly due to substantial insider selling that negatively impacted the token’s price. Recent days have seen a drastic price drop for LIBRA, prompting investors to adopt a more cautious approach.
As uncertainty looms over LIBRA’s future, the team behind the project has yet to provide any clear statements. This ambiguity continues to contribute to market volatility, leaving investors on edge regarding potential price movements.
Officials and Companies Respond
In response to the allegations, President Javier Milei has not remained silent, asserting that no wrongdoing has been detected. He emphasized that official authorities are closely monitoring the situation, and the investigation is ongoing, aiming to provide clarity. The investigation linked to the KIP Protocol adds to the market’s uncertainty, leaving investors eager for more information.
CEO Hayden Davis of Kelsier Ventures has denied any connection to the allegations, although such statements have not fully resolved the prevailing uncertainty. The steep decline of the LIBRA meme token has heightened risk perception in the market, with investors closely tracking LIBRA’s trajectory and the measures to be taken.
