According to Milk Road, the proliferation of celebrity-endorsed cryptocurrencies could lead to increased volatility in the market. This trend is likely to attract speculative investments, potentially creating short-lived market bubbles that traders should approach with caution. Historical data suggests that celebrity influence can temporarily inflate asset prices, but these are often not sustainable in the long term. Traders are advised to conduct thorough due diligence before investing in such coins.

According to [source], the recent fluctuations in memecoin prices highlight their volatile nature, likened to gambling. Traders should exercise caution as these assets often experience rapid price changes with little fundamental backing, making them highly speculative investments.