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?
if i am very much sure that a specific meme coin will go up in a short term and i put a small amount of money (what i can peacefully lose) into that and sell back quickly after making some money (go in and go out quickly) will that still be haram?
if u put in small amount u can peacefully lose in a casino bet?u think that would make it halal?
What if a meme coin has a use case like gamefi, creating finance opportunity and making schools with Charity.