Musk Warns Against Memecoin Mania, Calls Market a Gambling Frenzy

Elon Musk has compared the memecoin market to a casino, urging investors to be cautious about betting on speculative digital assets. Speaking on the Joe Rogan Experience, Musk warned that traders should avoid risking their life savings on memecoins, which he described as highly volatile and unpredictable.

Musk’s remarks come as memecoin hype reaches new extremes, fueled by massive gains and equally dramatic crashes. While he previously championed Dogecoin as a joke-turned-mainstream asset, Musk now seems more skeptical of the broader trend, emphasizing its resemblance to gambling rather than investment.

It’s like a casino or something and then people just do the greater fool theory, and like musical chairs, and whoever is the last to sit down loses.

Host Joe Rogan agreed, calling the memecoin frenzy “bananas” and questioning why people are throwing real money into assets with little utility. Their conversation follows recent turmoil in the Solana memecoin sector, where tokens like LIBRA collapsed, wiping out millions in investor funds. Analysts suggest insider manipulation may be playing a role in these rapid price swings.

Musk’s influence on crypto markets remains strong, but this time, his message is clear: proceed with caution. His comments serve as a stark warning to traders navigating an unpredictable market driven by hype, speculation, and extreme volatility.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。