Why is buying/trading a meme coin halal?

It seems to me that meme coins are much like a pyramid scheme and a type of scam. At least in the case of the coins that don’t have a purpose or value at all. Early investors only make money by late investors fomoing in and losing money.

Would this not making such investments haram?

A counter argument someone could make is that people are investing in an idea (meme) taking off. But that does not seem to me to be a valid argument as it sounds even more like a type of bet and not an investment in something with value. It seems much like betting on people in a crowd choosing their favourite colour.

So my question is: Why isn’t this haram?

Jazak Allah Khayr

Wa alaykum salaam,

I’m inclined towards such coins being problematic from a Shariah perspective.

Allah knows best

Hi brother can you check a coin called FARB. i know it needs to have use case which i see this token having as it trying to provide use cases and using AI etc?