🚀🚀Elon Musk-hyped meme coins are soaring in value — and analysts say they’re here to stay💸
❤️🔥Conclusion ❤️🔥
Within hours of Elon Musk changing his X handle to ‘Kekius Maximus’ on New Year’s Eve — a reference to an previously obscure cryptocurrency – its value rocketed 4,800% to hit a market cap of $380 million.
It was just the latest so-called meme coin — a cryptocurrency based on a meme or cultural event such as like Dogecoin, Shiba Inu, or Pepe the Frog — to spike and then, seemingly inevitably, fall (or completely tank) in a matter of hours.
Some skeptical financial gurus have called meme coins a Ponzi scheme, arguing they have no underlying value and attract people with little financial experience who then lose their money. 💵