Elon Musk Compares Meme Coins to Gambling
Tesla CEO Elon Musk compared meme coins to “casinos” and gave a blunt assessment of the speculative crypto division.
While recognizing their popularity, he warned investors not to invest their life savings into these high-risk assets.
Elon Musk shouts out meme coin hype
In the latest episode Joe Logan Experience Podcast, Musk does not back down Evaluate meme coins. Expecting to make a profit from them is as unrealistic as hoping to win at a casino, he suggests.
“If you expect to win on Meme coins, you’re stupid. You won’t win with Meme coins. Don’t put your life savings into meme coins.” He explain.
However, Musk played a key role in meme coin mania. His social media posts repeatedly triggered explosive rally, Dogecoin (Doge) He mentioned many times.
The latest mention is “Dogefather” Triple-digit growth has been triggered in the related tokens. Similarly, it exacerbated the token price surge when Musk changed his username to “Kekius Maximus” and “HarryBōlz”.
This duality – both a catalyst and a critic – added his casino comparison, especially when the data reveals unstable Meme coin success odds.
Meme coin boom loses steam as success rate drops
this Solana-based on Meme coin launch pad pump. is an example. According to dune,total Number of tokens created Fun.Fun has been steadily declining since late January. In addition, the number of tokens graduated from Raydium Dispersed exchange The risk of providing liquidity and broader broadness is also declining.
according to Analystin Januray, 24,008 The token successfully arrived at Redian. By late February, the number had collapsed to 11,532, marking a significant slowdown.
In the past 24 hours alone, 29,499 tokens have been created, but only 235 of them (always 0.80%) were awarded to graduates. The weekly graduation rate is still frustrating, with only 1.08% of the startup token successfully sending it to Raydium.
Even for those who do do this, reaching a huge valuation is still a more rare feat. Data from Coingecko shows that the meme coins reaching a $1 billion market cap account for only a small percentage of coins ever launched. More than 8.2 million tokens have been created since the inception of pump.fun, but none has a market cap of $1 billion.
Only four have crossed the $100 million market cap threshold: fart coins (fat coins) $330 million, AI Drilling Ride Complex (ARC) $230 million, Peanut Squirrel (pnut) $219 million, and Act 1 AI Prophecy (ACT) $185 million.
At the same time, user activities Pump. FUN also shows signs of fatigue. up to date data It indicates that both active and new users have dropped sharply. Therefore, the speculative madness of the once-defined meme coin trading seems to be fading.
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