Milei/$LIBRA Scandal: Neiro CTO S. on Hard Lessons, Community Strength, and the Hype Trap of Memecoins

Quick Summary:

The whole crypto community could have hardly imagined that a single promoting post from Argentine President Javier Milei on 14 Feb would end up in a devastated loss of $251 million for over 86% of the $LIBRA coin traders.

Memecoins have been a hype-based niche historically.their value is largely based on the mindshare that they can capture from the market participants.investors and traders,” explains Neiro CTO S.

In only a few hours span, the market cap of Solana meme coin, $LIBRA, reached to $4.5 billion as traders flock in to buy, only to see the coin crashing by 89%.$LIBRA price reached as high as $4.50 since launch to crash to just $0.50!

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Article Details

Author / Journalist: Sneha Agrawal

Category: Crypto

Markets: IndiaArgentinaMaliPanama

Topics: Memecoins Community Coin Investors Neiro Project Hype Crypto $libra Governance Pulls

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-21 @ 11:54:05 (1 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 1095 words

Reading Time: 7 minutes read

Sentences: 59 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 26322112

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