CandleFocus Elon Musk Compares Meme Coins to Casinos Amid Pump.fun’s Struggles
2025-03-03
Author: Content Editor
Tesla CEO Elon Musk has compared meme coins to a "casino," advising investors not to put their life savings into these high-risk assets. While Musk has played a role in meme coin mania with his social media posts, he warns against expecting to profit from them. Data shows the precarious odds for meme coin success, with the number of tokens created and graduating to decentralized exchanges declining. Only a small fraction of meme coins ever launched have reached significant valuations, and user activity on meme coin launchpad Pump.fun is decreasing. The speculative frenzy surrounding meme coin trading seems to be fading.
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