LIBRA Coin Crashes 92% After Milei Hype – What’s Next?

LIBRA Coin News: President Milei Denies Allegations in Crypto Collapse

The LIBRA token, which gained traction after Argentine President Javier Milei’s social media activity, witnessed a meteoric rise followed by a devastating crash. A single tweet from President Milei sent LIBRA soaring to $34.5, boosting its market cap to $4.5 billion. But within hours, it collapsed by 92%, wiping out millions in investor funds.

With over $314 million in realized losses, many investors were left wondering whether LIBRA can ever recover. Let’s analyze its potential for a comeback.

How Investors Lost Millions on LIBRA: A Breakdown of Major Losses

One notable investor initially gained $7.32 million thanks to a well-timed trade involving Donald Trump-related assets but suffered heavy losses due to investments in both Melania Trump’s token and LIBRA.

The investor lost $617,000 on Melania’s token.

Incurred a $1.76 million loss on LIBRA by making two unsuccessful trades.

Initially, he invested $1.7 million in LIBRA but sold for just $136,000, taking a $1.56 million hit.

After Milei’s retweet about LIBRA, he reinvested $300,000 but lost another $200,000.

Crypto Whale's Costly Mistake: $2.78M Lost on LIBRA

According to Solscan data, a crypto whale suffered losses on $LIBRA twice, totaling $2.78 million.

Three days before the crash, the whale invested 17,450 SOL ($3.25M) in LIBRA but later sold for just 3,200 SOL ($595K), taking a 14,250 SOL ($2.65M) loss.

After Milei’s retweet, the whale attempted another trade, investing 2,855 SOL ($531K) in LIBRA, only to later sell for 2,159 SOL ($412K), suffering an additional 696 SOL ($129K) loss.

Milei Breaks Silence on LIBRA Scandal: Denies Wrongdoing Amid Legal Threats

As the LIBRA controversy unfolded, Argentine President Javier Milei faced lawsuits and impeachment threats. In response, he denied any wrongdoing and emphasized that his social media activity was never intended to encourage investments. While he admitted to meeting with the LIBRA token creators, he maintained that he had no financial stake in the project.

Will LIBRA Token Recover? Analyzing Its Chances After the Crash

The big question on investors’ minds is whether LIBRA can regain its previous $4.5 billion market cap. The crash left approximately 75,000 users with losses totaling $286 million, making it one of the most severe downturns in recent crypto history.

The Steep Climb to Recovery

At its current price of $0.32, LIBRA would need to surge 1,360% to reach its previous ATH. Given the current market sentiment and shaken investor confidence, such a rebound seems highly unlikely. Despite ongoing discussions about potential compensation for affected investors, the road to recovery remains uncertain.

Source: DEX Screener

LIBRA’s Future: Can It Regain Investor Trust or Is It Over?

The likelihood of LIBRA reclaiming its former market cap appears slim. Investor confidence has been severely impacted, and market conditions remain unstable. Without substantial momentum, the token may struggle to regain its past valuation.