According to The Kobeissi Letter, the recent launch of $LIBRA, one of the top 5 largest memecoin events, resulted in the fastest destruction of retail capital on record. Since its launch, only four hourly green candlesticks have been observed, indicating a severe downtrend. Traders are reporting losses exceeding $5 million, highlighting the high-risk nature of investing in newly launched memecoins. This scenario underscores the importance of caution and due diligence in speculative markets.