Revised Complaint Clarifies Melania Trump and Argentina's Javier Milei Not Liable for Meme Coin Fraud: 'They Were Used as Props'
Lawsuit Against Meteora: Plaintiffs have filed an updated class action lawsuit against Meteora and co-founder Ben Chow, alleging that they misled investors with the launch of the MELANIA and LIBRA meme coins, using the credibility of public figures to promote a liquidity trap.
Involvement of Kelsier Ventures: The lawsuit also implicates Kelsier Ventures, led by Hayden Davis, for its role in marketing the tokens, while asserting that the public figures involved were not responsible for the alleged fraudulent activities.
Allegations of Insider Trading: On-chain detectives have suggested a potential link between the teams behind MELANIA and LIBRA, pointing to evidence of insider trading and market manipulation, as both tokens experienced a rapid rise and subsequent fall in value.
Current Token Performance: As of the latest data, MELANIA is trading at $0.09548, down 99% from its all-time high, while LIBRA is at $0.1135, also down 99% from its peak, following a significant drop after promotional activities.
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Technical Analysis for MELANIA
Technical Sentiment Analysis for Official Melania Meme (MELANIA) As of , Official Melania Meme (MELANIA) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MELANIA 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, MELANIA 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 $-.
Official Melania Meme (MELANIA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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