What risks are associated with meme coins in light of the Argentina scandal?

Meme coins carry significant risks as demonstrated by the Argentina scandal. These highly volatile cryptocurrencies have no intrinsic value but can experience dramatic price swings, as seen when President Milei's promotion of a meme coin led to a $4.4 billion value loss after an initial surge. Market manipulation is a major concern, with tactics including pump-and-dump schemes, fake transactions creating artificial demand, and centralized players inflating trading volumes. Additional risks include lack of long-term viability, vulnerability to hackers, and potential legal crackdowns that could affect liquidity. The Argentina case shows how even presidential endorsement couldn't prevent the devastating collapse that harmed countless investors.