🚨 Attention investors! Dubai’s Virtual Asset Regulatory Authority (VARA) is warning against memecoins! 🇦🇪💰 In an alert issued on Feb. 13, they highlighted that these assets are unregulated, highly speculative, and often manipulated. Unlike traditional assets, memecoins derive their value from social media trends and hype, making them risky investments. With many memecoins failing shortly after launch, it's crucial to examine advertisements carefully before diving in! A recent study revealed that 76% of influencers on X promoted memecoins that are now defunct, and 80% of those lost 70% of their value in just one week! VARA emphasizes that memecoin issuers must follow regulations if launching from Dubai, and violators will face enforcement action. Protect your financial security! What are your thoughts on memecoins? Have you been tempted to invest? Let's discuss!