Crypto sleuths at Bubblemaps are making waves, declaring themselves “highly confident” that they’ve uncovered compelling new evidence. Their claim? The team behind the recently launched Libra (LIBRA) memecoin is the very same group that brought us the Melania (MELANIA) token.

In a post on X (formerly Twitter) on February 17th, Bubblemaps announced their findings. They stated fresh on-chain data points towards a strong connection: the individuals behind the LIBRA launch, or those closely associated with them, are very likely the same players who launched the Melania token and profited handsomely by “sniping” both of their own coin launches.

The LIBRA token’s messy debut has already stirred up significant controversy. Following the $107 million crash, President Javier Milei is even facing calls for impeachment.

Delving into the details, Bubblemaps highlights a specific Solana wallet address, which they’ve labeled “0xcEA.” This wallet is accused of “sniping” the Melania Trump memecoin launch on January 19th. In this move, it allegedly raked in $2.4 million in profit and then promptly transferred the entire sum to another wallet on the Avalanche network.

What’s especially interesting is that these two wallets aren’t isolated entities. They are connected through multiple distinct trails, including a series of funding transactions and cross-chain transfers. These transactions appear to have been routed through various Solana wallets, possibly in an attempt to make the transaction history harder to trace.

“This strongly suggests that the creators of Melania – or someone within their inner circle – actually sniped their *own* launch,” Bubblemaps explained.

Fast forward a few weeks, and the analytics firm made another key observation. They discovered that the very same 0xcEA wallet had also funded the wallet address that was used to create the LIBRA token.

Then, after the LIBRA token launched on February 15th, history repeated itself. Wallet 0xcEA allegedly “sniped” the LIBRA launch as well, this time netting a cool $6 million in profits. And just like before, this was accomplished using multiple secondary addresses funded through cross-chain transfer protocols from wallets on both Arbitrum and Avalanche.

Putting it all together – the strikingly similar “sniping” activity by wallet 0xcEA and the consistent cross-chain transfer funding patterns – Bubblemaps has reached a strong conclusion: the LIBRA and MELANIA tokens were very likely launched by the same group of individuals.

Related: Donald Trump’s memecoin drops 38% as wife Melania launches token

And there’s more. Bubblemaps analysts further claim that the 0xcEA wallet is linked to a series of other notorious “pump and dump” token launches. This includes a fake Robinhood (HOOD) token which spectacularly climbed to a market cap of $120 million before plummeting back down to $12.5 million at the time of this report.

Libra and Melania Tokens: A Swift Crash Within Hours of Launch

The LIBRA memecoin even received an endorsement from President Milei right after it launched. However, the hype quickly turned into a disaster. Reports indicate “insiders” cashed out a staggering $107 million, causing the token’s value to collapse by 94% in under four hours.

Data analysis from blockchain intelligence firm Lookonchain reveals a clearer picture of the damage. They found that at least eight wallets connected to the Libra team rapidly drained liquidity from the token, pocketing $57.6 million in USD Coin and a whopping 249,671 Solana, valued at $49.7 million at that moment.

The Melania token experienced a strikingly similar downfall.

Having launched on January 19th, the “official” MELANIA token briefly soared, hitting a peak valuation of *over* $13 billion within just four hours. However, it has since plummeted by 99%, sitting at a much less impressive $189 million at the time of writing.