🚨 Breaking News ! Elon Musk dropped memecoins price .
Elon Musk says "If you expect profit from memecoins, you're stupid . You will not earn with memecoins . Do not invest your life savings in a memecoin ."
Elon Musk's statement against memecoins led to a price drop, calling investors "stupid" for expecting profits. This contradicts his strong promotion of Dogecoin in 2021, making him unpredictable. The author disagrees, pointing out that memecoins likhave seen significant gains. The recent decline is also linked to the launch of Trump's and Melania's memecoins, but the author believes it's not the end for memecoins.
Elon Musk's recent comments on memecoins have indeed caused a stir in the cryptocurrency market. In a recent interview with Joe Rogan, Musk referred to memecoins as "just a casino," suggesting that while some individuals might pro
This perspective marks a departure from Musk's earlier endorsements of memecoins like Dogecoin. His past promotions have significantly influenced the prices of such cryptocurrencies. For instance, his recent profile update to "Kekius Maximus" led to a 900% surge in the KEKIUS memecoin's price.
Following Musk's latest remarks, several memecoins experienced notable price declines. Dogecoin (DOGE) saw a decrease of approximately 8.8%, dogwifhat (WIF) dropped by about 20%, and PEPE 0x69 ON BASE (PEPE) declined by roughly 9%.
Additionally, the launch of memecoins associated with former President Trump and Melania Trump has contributed to market volatility. These tokens experienced rapid price surges followed by sharp declines, leading to significant losses for some investors.
Despite these fluctuations, some analysts believe that memecoins continue to hold potential for substantial gains, though they emphasize the inherent risks and speculative nature of such investments. The recent downturns highlight the importance of caution and thorough research when considering investments in memecoins.