Elon Musk cautions investors about the risks of meme coins in the volatile cryptocurrency market. Stay informed with live digital currency prices.
Elon Musk, CEO of Tesla and SpaceX, compared the meme coin market to a casino and advised investors to be cautious when buying these highly speculative assets. He emphasized on not risking life savings on meme coins due to their unpredictability. Musk, who previously supported Dogecoin (DOGE), now views the overall meme coin trend more cautiously, seeing it more as gambling than real investment. Analysts believe developers’ manipulation plays a significant role in the extreme fluctuations of these tokens.
