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Sadia Ali

SEI Surges 24% in a Week, Breaks Key Resistance – Eyes 60% to 70% Surge

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  • SEI surges 24% in a week, outperforming the broader crypto market.
  • Breaks major trendline resistance, signaling a potential strong rally.
  • Rising trading volume supports bullish momentum and investor confidence.
  • Eyes set on next resistance levels as SEI aims for further gains.

While the broader crypto market remains in a turbulent phase, SEI is breaking away from the trend, showcasing remarkable strength. Over the past week, the token has surged nearly 24%, outpacing most major cryptocurrencies and gaining investor confidence. With bullish momentum building, analysts are now eyeing the potential for further gains in the coming days.

SEI Price Surges Despite Market Downturn

At the time of writing, SEI is trading at $0.282345, with a 24-hour trading volume of $527.82 million and a market cap of $1.25 billion, giving it a market dominance of 0.04%. While many assets have struggled to hold key support levels, the token has maintained its bullish structure, recording a 1.08% increase in the past 24 hours.

SEI 1D graph coinmarketcap 1
Source: CoinMarketcap

This resilience highlights the token’s growing demand, as it continues to attract both retail and institutional interest. Investors are now watching closely to see if the token can sustain its breakout and push toward new highs.

SEI Surges Past Resistance, 60-70% Rally in Sight

SEI has recently broken a major trendline resistance on the daily timeframe, signaling the start of a potentially explosive rally. The breakout has been accompanied by increasing trading volume, further validating the strength of the move.

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SEI Surges 24% in a Week, Breaks Key Resistance – Eyes 60% to 70% Surge 3

With the token now trading above key resistance levels, market observers anticipate a potential 60-70% rally in the near future. If the momentum continues, the token could soon challenge its next resistance zones, potentially setting a new local high.

Can SEI Maintain Its Uptrend?

The coming days will be crucial for SEI’s price trajectory. If the token sustains its bullish momentum, it could continue to outperform the market and solidify itself as one of the strongest gainers in the current cycle.

With strong technical indicators and rising investor interest, the token is now in the spotlight as traders anticipate its next major move. If the breakout holds, a significant rally could be on the horizon.

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Floki Inu Holds Key Support as BinanceUS Relisting Fuels Recovery Hopes

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  • Floki Inu drops 35% in a month but secures a major exchange relisting
  • BinanceUS reintroduces FLOKI/USD trading, boosting liquidity and adoption
  • FLOKI holds key support, keeping its long-term bullish outlook intact
  • Breakout potential remains as FLOKI eyes a move toward $0.00005

Floki Inu (FLOKI) has been caught in a wave of market turbulence, experiencing a significant 35% decline over the past 30 days. The meme coin’s price movement reflects broader market volatility, putting pressure on its long-term bullish outlook. However, amidst the downturn, FLOKI has secured a major milestone that could boost its adoption and liquidity.

At the time of writing, Floki Inu (FLOKI) is trading at $0.00008874, with a 24-hour trading volume of $111.03 million. Its market cap stands at $848.18 million. Over the last 24 hours, the token has dropped 5.69%, reflecting continued selling pressure in the meme coin sector.

FLOKI 1D graph coinmarketcap
Floki Inu Holds Key Support as BinanceUS Relisting Fuels Recovery Hopes 7

Despite these setbacks, Floki Inu remains in the spotlight due to a significant exchange listing update that could influence its next major price move.

BinanceUS Relists FLOKI/USD Trading Pair

In a huge boost for Floki Inu’s adoption, BinanceUS has reintroduced direct USD trading for FLOKI. This listing places FLOKI among a select group of only 31 assets that have a USD trading pair on the exchange, joining the ranks of BNB, ADA, BONK, and DOGE.

This move enhances FLOKI’s liquidity and accessibility, particularly for U.S. traders looking to invest in the meme coin without relying on stablecoin pairs. The relisting aligns with Floki’s broader strategy to push for mainstream adoption and strengthen its presence in the global crypto market.

FLOKI Respects Trendline, Breakout to ATHs Possible

Despite its recent decline, technical indicators suggest FLOKI is still respecting its rising trendline. Holding the key support level is crucial for maintaining its long-term uptrend. If the price sustains above this level and gains momentum, a breakout to new all-time highs (ATHs) in 2025 could be in play.

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Floki Inu Holds Key Support as BinanceUS Relisting Fuels Recovery Hopes 8

Crypto market experts also highlight that FLOKI has broken out of a parallel channel, signaling a potential move toward $0.00005 in the near future. However, this scenario depends on broader market recovery and continued investor interest in meme coins.

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Floki Inu Holds Key Support as BinanceUS Relisting Fuels Recovery Hopes 9

Will FLOKI Recover or Face More Downside?

With FLOKI gaining renewed exchange support and maintaining critical technical levels, its next major price movement will depend on overall market sentiment. If Bitcoin and altcoins regain strength, FLOKI could capitalize on its BinanceUS listing and bullish setup to stage a strong comeback.

For now, traders and investors should closely watch key support and resistance levels, as well as broader market trends, to determine FLOKI’s next major price move.

Related Reading | Nasdaq Files For SEC Approval to List Canary HBAR ETF

Dogecoin (DOGE) Crashes to October Lows While a 400% Rally Looms

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  • Dogecoin has dropped nearly 12% in the past week, reflecting broader market struggles.
  • Network activity is at its lowest since October 2024, with whale transactions down to 66.
  • The current falling wedge pattern suggests a potential bullish breakout.
  • Previous falling wedge breakouts led to gains of 88%, 208%, and 445%.

Dogecoin (DOGE) is currently navigating through a rough phase, experiencing a significant decline in its value. Over the past week, the popular meme coin has seen a nearly 12% drop in price, mirroring the broader market turbulence that has gripped the cryptocurrency space. This downturn reflects the ongoing challenges faced by many digital assets, as they struggle to maintain momentum amidst market uncertainty.

As of today, Dogecoin’s network activity has slumped to its lowest levels since October 2024. The number of whale transactions has dwindled to just 66, while active daily addresses have fallen below 60,000. This decline in activity raises concerns over the token’s short-term prospects, signaling a lack of investor enthusiasm and participation.

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Dogecoin (DOGE) Crashes to October Lows While a 400% Rally Looms 13

At the time of writing, Dogecoin’s price is at $0.2319, with a 24-hour trading volume of $2.92 billion and a market capitalization of $34.26 billion. Its market dominance stands at 1.08%, and the price has dropped 5.21% in the last 24 hours alone.

DOGE 1D graph coinmarketcap 1
Dogecoin (DOGE) Crashes to October Lows While a 400% Rally Looms 14

Dogecoin’s Falling Wedge Signals Potential Rally

Despite these challenges, there’s a glimmer of hope for Dogecoin investors. Crypto analyst Trader Tardigrade recently pointed out that Dogecoin is nearing the completion of its fourth falling wedge pattern, a technical formation that has historically resulted in substantial price increases after breakout events. The falling wedge pattern is often seen as a bullish signal, indicating that the price may be poised for a reversal and a subsequent rally.

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Dogecoin (DOGE) Crashes to October Lows While a 400% Rally Looms 15

Looking back, Dogecoin has demonstrated impressive performance following previous falling wedge breakouts. The first breakout saw a remarkable 88% gain, while the second breakout resulted in a 208% surge. Most notably, the third falling wedge breakout led to an astonishing 445% price increase, offering hope that history may repeat itself.

With the current falling wedge approaching completion, many investors and market watchers are hopeful that DOGE could experience another breakout, potentially triggering a significant price pump in the near future. While the broader market remains volatile, this technical pattern provides a potential catalyst for Dogecoin’s next move.

Related Reading | Pi Network Coin’s 160% Surge Follows 60% Drop

Bittensor (TAO) Breaks Key Resistance: Is $600 the Next Target?

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  1. Bittensor (TAO) breaks out of a falling wedge, reclaiming critical EMAs.
  2. Price nears major resistance, with a potential push to $600.
  3. Market sentiment remains bullish, with dips seen as buying opportunities.

Bittensor (TAO) has shown impressive resilience after a steep decline that stretched over several months. The asset reached an all-time high of $782 in April 2024 but failed to sustain momentum, leading to a correction that resulted in a lower high in December.

The sell-off extended into 2025, with Bittensor plunging to $237.97 on February 3. However, buyers stepped in, initiating a strong recovery that has since propelled the token back above $400.

The recent surge gained traction after TAO secured a listing on Coinbase, a move that significantly boosted market confidence. Alongside increased liquidity, technical indicators have turned bullish. Market observer Alex Clay pointed out that TAO has broken out of a falling wedge pattern on the daily chart, a structure often associated with trend reversals.

Additionally, the asset has successfully reclaimed key exponential moving averages (EMA 50 & EMA 100), signaling renewed strength. Currently, TAO is trading at $437.42 and hovering near a critical resistance level.

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Bittensor Traders Eye Further Upside Potential

With Bittensor showing signs of strength, market participants are closely monitoring its next move. X user Kings Charts believes the asset is forming an “Inverse Head and Shoulders” pattern, a bullish setup that could trigger a significant rally.

They expect TAO to target $600 in the near term if it breaks above the current resistance zone. Additionally, they view potential dips to $375 or $350 as ideal buying opportunities, indicating confidence in the asset’s long-term growth.

Renowned trader Michael van de Poppe also weighed in, revealing that TAO is part of his personal portfolio. While acknowledging the possibility of short-term consolidation, he remains bullish on its overall trajectory.

He stated that a minor retracement to the low $400s would be healthy, potentially setting the stage for further upside. His outlook aligns with broader market sentiment, where temporary corrections are seen as opportunities rather than warning signs.

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Resistance Holds the Key to the Next Move

TAO’s immediate challenge lies in overcoming the major resistance level it is currently testing. A successful breakout could trigger a strong continuation of its recovery, potentially pushing the price toward new highs. On the other hand, failure to clear this level may result in a short-term pullback before another attempt at upward movement.

With growing institutional interest and improving technical indicators, TAO appears well-positioned for further gains. The coming days will be crucial in determining whether the breakout holds or if another consolidation phase sets in before the next leg up.

Related Reading | Best Crypto Presales That Could Be the Next 100x Investment

Dogecoin (DOGE) Bulls Eyeing $3 Target as Whale Activity Signals Accumulation

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  • Dogecoin is testing support at $0.19-$0.16, with whales buying 110 million DOGE, suggesting potential accumulation.
  • Resistance at $0.2556 and $0.2650, along with bearish RSI and MACD signals, point to downside pressure.
  • The outlook is bearish to neutral, with further declines possible if DOGE fails to hold $0.2400 support.

Dogecoin ($DOGE) has recently seen some volatility, struggling to maintain upward momentum while facing bearish pressure. A critical support zone has emerged between $0.19 and $0.16, with crypto expert Ali Martinez highlighting that if this support holds, the $3 target for Dogecoin remains a strong possibility.

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Dogecoin (DOGE) Bulls Eyeing $3 Target as Whale Activity Signals Accumulation 21

As the market watches closely, whale activity is adding an interesting twist, over the past 48 hours, whales have purchased an impressive 110 million Dogecoin, raising questions about potential accumulation and price action.

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Dogecoin (DOGE) Bulls Eyeing $3 Target as Whale Activity Signals Accumulation 22

Dogecoin Technical Analysis

Currently trading at $0.2437, Dogecoin has faced significant bearish pressure. After failing to hold above key moving averages, the 50 EMA, 100 EMA, and 200 EMA are now acting as resistance levels, reinforcing the prevailing downtrend. Despite the recent struggles, traders are closely monitoring key levels that could signal a shift in momentum.

The key resistance levels for Dogecoin are at $0.2556 and $0.2650, while the critical support levels lie at $0.2400 and $0.2350. These levels will play a crucial role in shaping the short-term price direction of DOGE, as a break above resistance could signal a potential bullish reversal, while a drop below support may lead to further declines.

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Dogecoin (DOGE) Bulls Eyeing $3 Target as Whale Activity Signals Accumulation 23

A closer look at the technical indicators reveals a bearish bias for Dogecoin. The Relative Strength Index (RSI) currently sits at 42, indicating a bearish trend but not yet reaching oversold levels. This suggests that while the market is leaning negative, there may still be room for movement. The MACD shows a bearish crossover, reinforcing the downside momentum. Furthermore, the low trading volume indicates weak buying interest, which supports the overall bearish sentiment.

The current outlook for Dogecoin’s price is bearish to neutral. For a bullish reversal, DOGE would need to break above the key resistance levels of $0.2556 and $0.2650. However, if DOGE fails to hold the $0.2400 support zone, the price may continue to decline, opening up the potential for further downside.

Dogecoin’s price action remains uncertain, with a focus on key support and resistance levels. The combination of bearish technical indicators and whale activity creates a complex environment for investors. As always, traders should remain vigilant and prepared for any potential moves in either direction.

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Coinbase Triumphs As SEC Agrees to Dismiss Lawsuit

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  1. The SEC has agreed in principle to drop its case against Coinbase, pending Commissioner approval.
  2. Coinbase views this as a major victory for the crypto industry and regulatory clarity.
  3. The company urges lawmakers to pass legislation ensuring long-term stability for digital assets.

The U.S. Securities and Exchange Commission (SEC) has agreed in principle to dismiss its enforcement case against Coinbase, the crypto exchange announced on Friday.

According to Coinbase’s Chief Legal Officer Paul Grewal, the decision, pending Commissioner approval, marks a critical moment in the ongoing battle between regulators and the crypto industry. Grewal described it as “righting a major wrong,” emphasizing that the case should never have been brought in the first place.

The legal dispute stemmed from the SEC’s claims that Coinbase operated as an unregistered securities exchange. However, the exchange has consistently maintained that its business model remained unchanged from when the SEC allowed it to go public in April 2021. Despite this, the regulator sued the company two years later, igniting a costly and drawn-out legal battle.

A Turning Point for Crypto Regulation

Coinbase sees this development as a broader victory for the crypto industry, asserting that it underscores the need for regulatory clarity in the United States. The company criticized the SEC’s leadership for overstepping its authority and engaging in a regulatory “war against crypto.”

According to Coinbase, millions in legal fees and years of litigation have now resulted in a significant win not just for the exchange but for its customers and the industry as a whole. The exchange argues that this case exemplifies the SEC’s lack of clear guidelines regarding crypto assets.

By forcing legal battles rather than creating comprehensive regulations, the agency has slowed innovation and driven investment away from the U.S. With this dismissal, the exchange believes it has held the SEC accountable while reinforcing the industry’s right to operate within a fair regulatory framework.

Calls for Legislative Action

Following this legal victory, the exchange is urging lawmakers to take action. The company believes that clear regulations are necessary to prevent similar enforcement actions in the future. It argues that a well-defined legal framework would attract more capital inflows, modernize the financial system, and ultimately provide economic benefits to consumers.

Coinbase’s leadership remains firm in its stance that digital assets will play a significant role in the future global economy. They stress the importance of ensuring that the U.S. remains at the forefront of this technological evolution. The company warns that without regulatory clarity, America risks falling behind other nations that are embracing blockchain innovation.

Coinbase’s Commitment to Crypto Growth

Despite the legal battle, Coinbase affirms its commitment to pushing for crypto adoption and financial freedom. The company believes that blockchain technology will eventually power a large portion of the global economy. With the SEC case nearing dismissal, Coinbase views this moment as a stepping stone toward regulatory progress.

Moving forward, Coinbase plans to work with regulators and lawmakers to craft long-term policies that support innovation. While challenges remain, the company remains determined to shape the future of digital assets in the U.S.

XRP’s Critical Price Levels: Why $3 Remains the Ultimate Breakout Zone

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  1. XRP remains in a corrective phase, with resistance at $2.82 and $3.00.
  2. A breakout above $3 could confirm the end of Wave 4 and signal a major move.
  3. Key support levels are at $2.17, $1.96, and potentially as low as $1.50.

XRP continues to consolidate within a corrective channel, maintaining the structure of a typical Wave 4. The market’s choppy movements are testing traders’ patience, but the broader trend remains intact. On the 4-hour chart, the corrective structure remains clear, with key resistance at $2.82 and $3.00.

If XRP pushes to these levels but fails to break through, the Wave 4 structure stays valid. However, a breakout above $3 would indicate a shift, signaling the correction is complete and opening the door for a much larger rally.

On the downside, XRP traders are closely monitoring $2.17 and $1.96 as crucial support levels. If these levels hold, it would reinforce the current wave structure before the next major move. Any deviation from this setup would require a reassessment of the overall count.

XRP Drop Below $2.52 Shakes the Market

Recently, XRP fell below the critical $2.52 level, causing concern among traders. The market’s 6% decline triggered a shakeout, but long-term projections remain unchanged. The drop led to a reevaluation of the wave count, now positioning XRP within a possible final correction phase before a major upside move.

The daily chart shows that XRP has already retraced to the 0.5 Fibonacci level, aligning with a major resistance point from 2021. This type of retracement is common in market cycles and does not necessarily indicate a trend reversal. Instead, it suggests the possibility of a higher low before the next leg up.

Key Levels to Watch for Reversal

Traders are now watching three critical support levels: $2.23, $1.86, and $1.50. These levels serve as potential entry points for buyers looking to capitalize on the next wave up. Notably, the first two levels do not require a new low, meaning XRP could find support and rebound without dropping significantly further.

If XRP does make a new low, $1.50 becomes the next key retracement target. This aligns with standard Wave 2 corrections, setting the stage for the next major push. Meanwhile, a breakout above $3 and then previous all-time highs would confirm a trend reversal and bring renewed momentum into the market.

Market Prepares for the Next Major Move

The ongoing correction phase is creating opportunities for strategic entries rather than panic-selling. The market tends to shake out weak hands before making its biggest moves. XRP’s next confirmation signal will come from a clear breakout past previous highs, first at $3 and then at $4.

Until then, traders must stay patient and let the market develop naturally. The big picture remains unchanged; this correction could be the foundation for a massive Wave 3 rally that surpasses all previous highs.

Urgent Call: Coinbase Wants Congress to Rescue Crypto Innovation

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Key Takeaways

  1. Coinbase urges Congress to prioritize clear crypto legislation to empower innovation and protect consumers.
  2. The proposal advocates granting the CFTC authority over spot markets to foster market transparency.
  3. Swift action is needed to prevent innovation from moving overseas and safeguard the U.S.’s blockchain leadership.

Coinbase, one of the leading cryptocurrency exchanges, has called for the U.S. Commodity Futures Trading Commission (CFTC) to oversee spot cryptocurrency markets, limiting the Securities and Exchange Commission’s (SEC) role in regulating digital assets.

This bold proposal, written by the Chief Policy Officer of Coinbase, Faryar Shirzad, reflects the need for comprehensive legislation to provide much-required clarity to innovators while preserving robust protection of the customer base.

The proposed framework prioritizes enabling developers, preserving self-custody capabilities, and encouraging participation within decentralized finance (DeFi). In addition to this, Coinbase is of the opinion that central intermediary institutions like exchanges must have high levels of both transparency and security to enhance customer trust.

A central recommendation is to allow the CFTC to regulate the crypto spot market, namely assets like Bitcoin and Ethereum that are categorized as commodities. In the view of Coinbase, this measure would introduce a degree of transparency, prevent fraud, and act to support the consumer without discouraging innovation within the blockchain ecosystem overall.

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Source: Coinbase

Coinbase Propose Clearer Rules Could Bolster Innovation

The Coinbase proposal also emphasizes the need to grant the developers the regulatory certainty to build the systems that are decentralized with the assets being owned by the user itself.

Shirzad also emphasizes the protection of wallets that will enable the public to engage with blockchain without being entirely reliant on central systems.

Additionally, the paper advocates maintaining the open innovation potential of DeFi and digital commerce. Shirzad warns that excessive regulation will push innovation overseas with the potential to expose American consumers to fraud and systemic threats.

A stablecoin infrastructure that will ensure the token is fully supported and transparent is also needed to bridge the crypto to the fiat economies. In requesting simplified user-friendly regulations, Coinbase is highlighting the need to integrate crypto regulation into the existing U.S. financial infrastructure without disrupting unnecessarily.

Time is of the Essence

Coinbase’s proposal warns of the perils of lagging regulation. In the dearth of certain legislation, the U.S. will lose its comparative advantage with the flight of companies and programmers to other jurisdictions with less onerous terms. Besides that, vague terms leave American consumers at the mercy of potential market abuses and collapse.

By passing reasonable legislation, the Congress can have the opportunity to serve the consumers, enhance innovation, and uphold the U.S.’s blockchain lead globally. The call to action by Coinbase is a watershed that is the country getting the opportunity to seal its status within the international digital economy.

Why Memecoins Are Over, Devastating $4B Scandal

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Key Takeaways:

  • The $4 billion LIBRA scandal signals the end of the memecoin era.
  • Authorities are likely to enforce regulations amid evident on-chain paper trails.
  • Market focus pivots to sustainable and fairly valued projects.

The memecoin market has taken a heavy blow following the fallout of the $4 billion LIBRA scandal, implicating Argentine President Javier Milei. Crypto investor Nic Carter of Castle Island Ventures declared the era of memecoins “unquestionably over.”

He pointed out that the controversy underscores endemic corruption within the industry that shatters the myth of equal opportunities for regular investors. The coins that were hailed earlier due to their purported “fair launch” protocols are being questioned today regarding insider manipulation and pre-launch favoritism.

Carter emphasized that the very mechanics that enticed the retail traders were exposed to have been rigged with a small elite profiteering at their expense out of all proportion. LIBRA’s explosive valuation to $4 billion within minutes was the latest of a sequence of rigged and botched launches that had the entire crypto community disillusioned.

Insider Trading and Enforcement Loom Large

Carter warned that the days of unhindered memecoin launches are drawing to a close. Law enforcement is increasingly turning its eyes to crypto industry manipulation and insider trading. On-chain evidence of the most recent scandals have yielded a digital trail that can be capitalized upon by the regulators.

Although memecoins were exempt from being treated like traditional securities by the law, Carter added that legal precedents of inside information are applicable no matter the asset involved.

With many insiders at the risk of facing criminal charges, the memecoin market is likely to fall under stricter regulation. With increased enforcement, astute investors will have no choice but to leave the sector behind, leaving the gullible retail traders exposed to abusive behavior.

Market Moves Beyond the Era of Memecoins

The crypto market is reacting to the decline of memecoins by resorting to sustainable quality-driven projects instead. Contrary to memecoins, quality-backed tokens with transparent pricing are taking off instead.

Carter highlighted the advent of sites like Echo that are geared toward qualified investors and compliant token launches as a possible solution to token launches disorder

Moreover, developers and venture capitalists are also reacting to market sentiment by reducing prelaunch valuations to provide a more equitable access to all participants.

This evolution is a healthy change to the industry that results in a healthier environment. Altho the crash of the memecoin market is painful short-term-wise, according to Carter, it actually sets the path to a stronger and mature crypto environment.

LIBRA’s Epic Crash: $251M Gone, Insiders Profit Millions

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  1. Investors lost $251M in a massive $LIBRA pump-and-dump, with 86% of wallets selling at a loss.
  2. Early snipers profited millions, while most retail traders faced devastating losses.
  3. Solana suffered a 16% liquidity drop amid the fallout from $LIBRA’s collapse.

The $LIBRA memecoin saw a dramatic trajectory on February 14, 2025, propelled by an endorsement from Argentina’s President Javier Milei. Marketed as a tool to support small businesses and Argentina’s economy, the token quickly surged to a $4.5 billion valuation.

According to the report by Nansen, within an hour of its creation, the price of $LIBRA rose to a record of $4.55 before later plummeting shortly afterwards. Project lead Hayden later downgraded the token to a memecoin later on, nullifying its initial purpose.

Milei’s quiet deletion of the promotional tweet was followed by a public backlash. To add to the controversy, blockchain investigator Coffeezilla revealed that Milei had no vested financial interest in the project. Nevertheless, the harm was irreversible as insiders took advantage of the early access to bank millions while leaving the retail traders at a significant loss.

Insiders Profit While Retail Suffers in $LIBRA Collapse

Data reveals striking disparities between winners and losers. Of the 15,431 wallets with a gain of greater than $1,000 or a loss of greater than $1,000, 86% lost, totaling $251 million. In contrast, 2,101 wallets made a profit of $180 million.

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Certain wallets, presumably bots, entered and closed within minutes with profits of millions of dollars. One wallet, HyzGo2, made a gain of $5.1 million by itself. On the other hand, other wallets like XRfKhaCA made significant losses with inside contacts. dysphoria.sol lost a lot of money on $LIBRA while making a million on earlier tokens like $TRUMP and $MELANIA, implying inside information.

8bZsrR was the highest gainer and was reportedly making a profit of $25 million by dividing the holdings of $LIBRA among various wallets at the right time. Despite these staggering losses, the token saw trading activity days after its collapse. A Feb 17 repost by Milei saw the price increase 125%, although the bounce was later reversed, increasing the losses of the retail traders.

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Impact on the Broader Crypto Market

The ripple effect of the collapse of $LIBRA was also experienced by its immediate investors. The blockchain that supported $LIBRA took a major hit with its liquidity reducing to $8.29 billion down from $12.1 billion. Although Solana was not directly affected, the fact that it supported the token raised fears about the destiny of memecoins.

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The $LIBRA episode is a symptom of a recurring trend among crypto markets: inside profits, speculative mania, and destruction of the retail base. Besides financial loss, it also eroded trust and revealed vulnerabilities within a sector that is striving toward mainstream legitimacy. It is to be seen if this is a healthy correction of the market or a greater fatigue with memecoin rackets.