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‘Meme coin mania is dead’: the rise and fall of the crypto a fad

Cryptocurrency traders commiserated over the one-month anniversary of Donald Trump’s failed token with a fresh scandal which threatens to kill the meme coin hysteria that gripped crypto markets so far this year.

The latest saga involves Argentinian President Javier Milei, who last weekend promoted a token called Libra on X (formerly Twitter). Within hours, the coin’s value more than quadrupled to $US4.5 billion ($7 billion) before crashing.

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