I'm asking because I've witnessed a memecoin named MOTHER, which is backed by Iggy Azalea, go from a $100k market cap to over $100M in less than 7 days, with the potential to even hit $1B, in my opinion. That's amazing and electric if you ask me.
Did you follow this meme coin? What's your opinion on it, and do you think we'll see more memecoins backed by celebrities?
If they are paid for it and it's only marketing then they should be responsible for any loss that anyone makes just like the companies that make them lose, but if they are actually interested in it like how Elon Musk was to doge, without personal gain and just enjoying and actually liking it, then I find that to be a great thing.
You and I have the right to back a memecoin if we want to, because we are not famous there is nothing wrong with that, and there shouldn't be anything wrong with some celebrity having the same thing as well, if they are not really that much of a big deal, then we shouldn't really be worried. Only time it is not a good deal is when they are paid to promote it and then it becomes something terrible for everyone involved and should even be illegal.