Meteora Co-Founder Faces Fresh Lawsuit for Token Scams Associated with Trump and Milei
Allegations Against Benjamin Chow: Benjamin Chow, co-founder of the Meteora decentralized exchange, is accused of orchestrating a scheme to defraud investors through 15 different token launches, using the names of public figures like Melania Trump and Javier Milei to lend credibility to the scams.
Mechanics of the Fraud: The lawsuit claims that Chow and his associates manipulated the prices of tokens, including MELANIA and LIBRA, by creating artificial scarcity and using paid promotions, ultimately leading to significant financial losses for unsuspecting investors.
Denial and Evidence: Despite Chow's claims of innocence and assertions that he was merely a passive developer, blockchain analysis has revealed financial connections among the insiders, indicating they profited over $100 million from the alleged scams.
Focus of the Lawsuit: The plaintiffs are targeting Chow, Meteora, and Kelsier Ventures, while absolving Melania Trump and Javier Milei of responsibility, emphasizing the organized nature of the fraud and the roles played by each participant in the scheme.
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Technical Analysis for MET
Technical Sentiment Analysis for Meteora (MET) As of , Meteora (MET) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MET stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MET is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Meteora (MET) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0939 | 0.135 | 0.181 | 0.222 | 0.268 | 0.309 | 0.355 |
| Fibonacci | 0.135 | 0.169 | 0.189 | 0.222 | 0.256 | 0.276 | 0.309 |
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