Milei's Endorsement Drives Libra Token's Wild Ride: $4.5B to $82M in Days

The Libra Token, endorsed by Argentine President Javier Milei, experienced a dramatic rise and fall in its market cap, reaching $4.5 billion before plummeting to current levels. The token's value surged following Milei's social media post, but a subsequent sell-off erased millions in investor gains. The token's market cap now stands at $82.16 million, raising questions about its ability to reclaim its former highs.

Milei's endorsement sparked a wave of speculation, with traders rushing in to capitalize on the hype. However, the rally quickly turned into a sell-off as the price collapsed. Milei later deleted his post and distanced himself from the project, further contributing to the token's decline. Investors are now left questioning whether the Libra Token can recover from this setback and regain its former market cap.

The Libra Token's dramatic decline has left around 75,000 users with losses amounting to approximately $286 million. Rumors suggest efforts to compensate affected investors, but the token's recovery to its previous valuation appears highly improbable given current market conditions and investor sentiment. The token would need a staggering 1,285% rally to reach its previous market cap, making a full recovery unlikely.

The Libra Token's crash followed Milei deleting his endorsement, triggering a massive sell-off. The initial surge in the token's price was driven by Milei's social media post, but the subsequent market conditions and investor sentiment make a recovery to the previous $4.5 billion market cap seem highly unlikely. Investor confidence remains shaken, and without renewed momentum, the token may struggle to regain its past valuation.