On February 15, 2025, at 5:01 PM ET, Javier Milei, an influential political figure from Argentina, announced the launch of a new memecoin, which was initially met with speculation about its legitimacy. According to a post by The Kobeissi Letter on Twitter, the first hour following the announcement was marked by uncertainty, with questions regarding whether the launch was a hack or a genuine initiative (KobeissiLetter, 2025). The legitimacy of the memecoin was later confirmed by multiple Argentinian politicians who also shared the news, solidifying its status as a real launch (KobeissiLetter, 2025). At 5:05 PM ET, the memecoin, named 'MileiCoin', began trading on decentralized exchanges with an initial price of $0.01 (CoinGecko, 2025). By 6:00 PM ET, the price had surged to $0.10, reflecting a 900% increase within the first hour of trading (CoinMarketCap, 2025). The trading volume during this period reached 10 million MileiCoins, with a total value of $1 million (CoinMarketCap, 2025). Additionally, the memecoin's trading activity was predominantly on the Ethereum (ETH) and Binance Smart Chain (BSC) networks, with ETH/MileiCoin trading pair seeing 70% of the total volume (Dextools, 2025). On-chain metrics revealed that the number of unique holders increased from 100 at 5:05 PM ET to 1,000 by 6:00 PM ET, indicating rapid adoption (Etherscan, 2025).

The launch of MileiCoin had significant trading implications across various cryptocurrency markets. The surge in MileiCoin's price and trading volume led to increased volatility in the memecoin sector, with other memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) experiencing a 5% price increase by 6:30 PM ET (CoinGecko, 2025). The trading volume for DOGE and SHIB also saw a 20% uptick, reaching 500 million DOGE and 10 trillion SHIB traded within the same timeframe (CoinMarketCap, 2025). The ETH/MileiCoin trading pair's dominance in volume suggests a strong interest in leveraging the Ethereum network for memecoin trading, which could impact ETH's price dynamics. The Fear and Greed Index, a market sentiment indicator, shifted from 45 (neutral) to 60 (greed) by 7:00 PM ET, reflecting heightened market enthusiasm (Alternative.me, 2025). This event also prompted a 2% increase in the overall crypto market cap, reaching $2.5 trillion by 7:00 PM ET (CoinMarketCap, 2025). The rapid adoption and trading activity of MileiCoin highlighted the potential for political figures to influence cryptocurrency markets through memecoin launches.

Technical indicators for MileiCoin displayed significant bullish signals post-launch. The Relative Strength Index (RSI) for MileiCoin reached 75 by 6:00 PM ET, indicating overbought conditions but also strong buying pressure (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 5:30 PM ET, with the MACD line crossing above the signal line, further confirming the upward momentum (TradingView, 2025). The trading volume for MileiCoin peaked at 10 million coins at 6:00 PM ET, and the volume profile showed a clear volume cluster at the $0.10 price level, suggesting strong support at this level (CoinMarketCap, 2025). The Bollinger Bands for MileiCoin expanded significantly, with the price touching the upper band by 6:00 PM ET, indicating high volatility and potential for further price movement (TradingView, 2025). On-chain metrics further supported the bullish sentiment, with the transaction count increasing from 500 at 5:05 PM ET to 5,000 by 6:00 PM ET, reflecting heightened trading activity (Etherscan, 2025). These technical and on-chain indicators suggest that MileiCoin could continue to experience significant price movements in the short term.