Quick Facts:
- Bubblemaps’ on-chain analysis suggests a single entity may be controlling both $LIBRA and $MELANIA memecoins.
- Wallet activity shows cross-chain transfers linking $MELANIA’s creator wallet to $LIBRA’s main team wallet.
- Both tokens experienced rapid price surges followed by sudden collapses, with insiders reportedly cashing out millions.
- Additional tokens, including TRUST, KACY, VIBES, and HOOD, are also linked to the same controlling entity.
Blockchain analytics platform Bubblemaps has revealed possible ties between the teams behind the $LIBRA and $MELANIA meme coins, suggesting that both projects may have been orchestrated by the same entity. The findings, based on on-chain data, raise concerns over the involvement of key political figures, Melania Trump and Javier Milei with these memecoin launches.
According to Bubblemaps, wallets connected to the creator of $MELANIA were actively involved in transactions with $LIBRA, participating in token sniping and profit-taking from both projects. The pattern of trades indicated a coordinated strategy, implying that the same entity was manipulating liquidity pools and potentially orchestrating price movements to maximize gains.
$LIBRA and $MELANIA Memecoins
The controversy surrounding $LIBRA erupted last Friday after the token received an unexpected endorsement from Argentina’s President Javier Milei, triggering a meteoric price surge. The token’s market capitalization briefly soared to billions before collapsing within hours. Bubble maps traced part of this collapse to insiders who withdrew $107 million in trading fees and liquidity pool funds, accelerating the price crash.
The $MELANIA meme coin, which had been promoted by the U.S. First Lady Melania Trump, followed a similar trajectory in January 2025, experiencing a rapid market cap surge before a sharp collapse. Bubblemaps claims that on-chain patterns indicate that both tokens were manipulated using the same wallets, pointing to a coordinated scheme likely orchestrated by a single entity.
At the center of Bubblemaps’ investigation is a Solana wallet, “P5tb4”, which earned over $2.4 million through sniper activities during the $MELANIA token launch. The profits were later moved to an Avalanche-based EVM wallet, “0xcEA”, which was directly linked to $MELANIA’s creator through funding transactions and cross-chain transfers.
Bubblemaps further traced activity from the 0xcEA wallet, discovering that it had been funding another wallet, “DEfcyK”, identified on Solscan as the primary creator wallet of $LIBRA, tagged as a team wallet. This connection, facilitated through cross-chain swaps, suggests that both meme coins were operated by the same entity using different wallets across blockchain ecosystems.
Additionally, Bubblemaps detected similar patterns of control over other tokens, including TRUST, KACY, VIBES, and HOOD, indicating a broader network of coordinated projects managed by a single entity.
Milei Faces Political Firestorm Over $LIBRA Token Scandal
The $LIBRA token controversy has sparked a political crisis for Argentine President Javier Milei, with opponents condemning his involvement and labeling the situation an “unprecedented scandal.” Critics argue that Milei’s perceived endorsement of the token contributed to a wave of speculative investment, which ended in chaos following the token’s dramatic price collapse.
Under mounting pressure, Milei’s administration has launched an official investigation into $LIBRA’s launch. The inquiry, led by Argentina’s Anti-Corruption Office (OA), aims to determine whether Milei’s public association with the project misled investors and exacerbated the market turmoil.
