I think it is easy and convenient to blame the BTC price dump on Elon musk but i see no reason why anyone should be investing their hard earned money into these animal meme coins that are flooding the markets. They offer no utility and are created solely for the purpose of becoming the next dogecoin.
I will rather invest in BTC that wouldn't give me huge gains than a meme coin that can dump tomorrow and loose all the profits it has gained
Indeed, there's no reason to invest in these meme coins but those investors who are willing to risk their money are greedy to earn instantly. It has no utility but if the price pump because of shillings then they can earn huge and thats their goal, to earn in a short period of time. It is really risky to invest in coins without use case but its their decision and we cant coerce them to stop investing, well its their money anyway. Maybe these investors need to experience to lose before realizing their mistakes.