Libra Token’s Dramatic Price Drop After Initial Surge
Libra, a new crypto token, faced a critically important price drop shortly after its launch. the token gained attention when Argentina’s President, Javier Milei, promoted it on social media. He claimed it would boost the economy by funding small projects. This endorsement led to a price surge, but it was short-lived.
within 24 hours, Libra’s price peaked at $0.8 before plummeting by 89.4%. It now trades at $0.3182. The crash was due to insiders selling their tokens, leaving retail buyers at a loss.The token’s market cap is $81.5 million, with a 24-hour trading volume of $158 million.
Libra’s website was hastily created before the launch, lacking a solid financial plan. In the first three hours, over $87 million was withdrawn. This led to accusations of a pump-and-dump scheme.The Argentine government tried to downplay the incident, but it hasn’t helped Libra’s value.
Despite the controversy, some remain hopeful about Libra’s future. DigitalCoinPrice predicts its price could range between $0.29 and $0.70 by 2025, with a likely value of $0.68. Mudrex forecasts a minimum of $0.10 and a maximum of $0.50 for the same year.
For 2030, Mudrex estimates Libra’s price could be between $0.20 and $1.30. DigitalCoinPrice expects it to reach $1.52 or $1.75. Though, these predictions are uncertain due to crypto market volatility.
Before investing in Libra, consider its recent performance and the risks involved. The token’s future is uncertain, and it’s crucial to do thorough research.
