Cryptocurrencies have been fully entering the life of people with the risk of digital investments and the addition of ignorance of the new elements that come into play such as Memecoin. Only an example is $ Libra, the cryptodye that has caused more than a hundred complaints against Javier Milei after spreading, not to promote, according to him, a new currency whose precious one inflated in a few hours after a message from the president in social networks.
On the same day, it moved millions of dollars and collapsed causing losses in many investors. The Argentine president disconnected from the project in suspicion that it could be a scam of a memecoin.
Although it is part of the cryptocurrency spectrum, unlike conventional and consolidated cryptocurrencies such as Bitcoin or EthereumMemecoin these are based on capitalizing the enthusiasm that revolves around a phenomenon or a person on social networks and does not have real economic support, which is a great financial risk.
Risk of fraud
One of the main fraudulent movements is known as ‘Rug Pull’, which in Spanish would translate as ‘carpet pull’. This maneuver consists in the attraction of investors by the developers of the ‘Token’ promising important returns so that their value quickly increases.
Once they get it, the creators of the currency suddenly withdraw the funds leaving investors without savings and causing the collapse of the currency itself, as would have happened with $ Libra last weekend.
Image of the official memecoin of Donald Trump.
One of the best known is Dogecoincreated from the famous memes dog. Shiba Inu or Pepe also, although in recent weeks the virtual coins of Donald Trump and Melania have also entered the market, created by themselves newly arrived again to the White House.
In the case of $ Libra, Milei’s advertise He has triggered in a cause of enormous magnitude that has undermined the popularity of the Argentine president, who now faces possible judicial causes.
Although it ensures total ignorance about this currency, a few years ago it also participated in the promotion of another cryptodivisis known as Coinx. Milei, who was then a deputy, came to recognize in an interview that received money in exchange for advertising.
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