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According to the Galaxy Research report, the LIBRA token incident has negatively impacted the Solana 
$120 memecoin ecosystem. The liquidity problems that arose following the January launch of the TRUMP token may seem minor compared to the damage that LIBRA is poised to inflict.
LIBRA Fraud Allegations
The report indicated that the LIBRA incident has exerted pressure on the Solana network token SOL. It was expressed that SOL’s rise is dependent on the demand for SOL-based assets, while we are witnessing value losses against the dollar and Ether.
Argentinian President Javier Milei claimed that he intended to support small businesses with the LIBRA token, yet faced threats of removal from office. This situation has sparked debates in the political and economic spheres.
Bribery Claims
The report noted that the LIBRA token experienced a 90% loss in value following a brief market capitalization increase, with enthusiasm for Solana memecoins significantly declining since the peak in January. Recent leaks suggested that the mastermind behind the LIBRA incident had previously admitted to sending money to President Milei’s sister, stating, “I make her do what I want this way.” Such claims could ignite a process leading to the dismissal of President Javier Milei.
Market analysts expressed that the LIBRA incident could heighten risks in the memecoin ecosystem in the future. The fluctuations experienced have led to an increase in both spot sales and short positions in reaction to Solana.
There are developments in the market that require careful monitoring. During this process, where various factors are at play, the necessity of basing investment decisions on meticulous analyses becomes paramount.
