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  • Are memes - coins allowed or prohibited?

    Meme coins, such as Dogecoin (DOGE), PEPE, and Shiba Inu, are rapidly gaining popularity due to their online culture and humor. However, their compliance with Sharia law raises serious questions. Let's explore what the Islamic principles say about these digital assets.

    Sharia opinion on meme coins

    Lack of intrinsic value: Meme coins do not have any real utility or ownership rights. Their value is based on trends and speculation, rather than on real economic assets.
    Speculation and volatility: The prices of meme coins rise and fall based on hype and fear of missing out (FOMO). This falls under the category of gharar (uncertainty) and maisir (gambling), which is prohibited in Sharia law.
    Investment ethics: Meme coins promote a frivolous approach to investment, which contradicts the humanistic goals of Sharia law aimed at the benefit of society.
    Branding issues: Meme coins are often associated with animals or jokes, which may be contrary to Islamic ethical standards.

    Build your wealth on the assets that are allowed! Trade wisely and avoid questionable transactions.
    Tags: equal finance, equalex, halal investments, halal stocks, sharia investments
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