Meet the Gen Z Talibros trading meme coins in Afghanistan’s crypto adoption wave, after Taliban crypto bros emerged as the latest viral trend on X.
Posts on X recently indicated that some Taliban members are trading meme coins like DOGE and SHIB. People suggest this is an unexpected development given the group’s traditional stance on many modern technologies and financial systems, especially seeing them trade meme coins like SHIB and DOGE.
The Taliban trade memecoins. Get it yet?pic.twitter.com/FhSxcY9P2F
— Luke Belmar 
(@lukebelmar) December 8, 2024
In a viral video, a man is seen doing a selfie video. He asks people, “Do you like meme coins?’ at what looks like a gathering.
One man replies, “I don’t know about that.” Shortly after, another man replies, “I know, meme coins. I’ve traded SHIB and DOGE, made some good money on both, and lost it back.”
Then the first man says, “Talibros trading meme coins,” which some X users have highlighted as The Taliban Trading meme coins.
While we can argue whether they are really Taliban men, we see that meme coins are one of the most popular ways for the masses to adopt cryptocurrency.
Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have fostered cultish communities with global recognition. Their success is largely driven by social media, where high-profile figures often promote these coins through viral memes and endorsements.
According to web insights, the power of social media influencers has been pivotal, with Elon Musk’s tweets significantly influencing Dogecoin’s price movements and boosting the coin’s profile.
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Afghanistan Crypto Adoption is Flourishing: US Sanctions and Rug-Pulled Foreign Aid Has Fuelled Crypto Growth
Yet, for those familiar with Afghanistan, the permeation of cryptocurrency comes as little surprise. Indeed, crypto adoption in Asia’s heart has flourished over the past five years—especially after exclusion from the SWIFT international banking system, which rubbed salt in the wound of a healing nation.
“Crypto has a strong following here in Afghanistan. Some people rely on it to send and receive money across borders. I know a couple of businessmen who use Tether to settle transactions and trade overseas,” explained 99Bitcoin’s Afghanistan-based Analyst Ruholamin Haqshanas.
However, there has also been pressure on crypto entities within the country; for example, in 2022, 16 cryptocurrency exchanges operating in Herat province were raided, and the staff was arrested after the Afghanistan Central Bank ‘banned cryptocurrency’ as part of a clampdown on foreign exchange trading and scammer activity (although this appears loosely enforced).
“There are also some who trade cryptocurrencies, including meme coins. This trend really took off in 2021 when the Taliban hadn’t yet banned cryptocurrencies, and there were dozens of local crypto exchanges operating in major cities, making it easier for enthusiasts to get involved. At the time, the allure of quick gains and the raging bull market led to many people investing in meme coins, especially DOGE and SHIB,” Haqshanas explained.
“While some investors managed to cash out their profits, most lost as they used risky trading strategies like futures without adequate knowledge or experience.”
Fuelled by a sinister combination of US economic sanctions, failing national banks, and a huge drop in international aid and foreign currency inflows, the Afghanistan economy has been under immense pressure. This has driven many in the country to seek opportunities in the crypto market to weather currency devaluation and participate in remittances, which has spotlighted Haqshanas.
“Aside from trading, crypto is especially important for Afghans because it connects us to global financial markets. Traditional banks here offer very limited services, and major payment platforms like PayPal, Stripe, and Payoneer don’t support Afghanistan.”
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The post Meet the Gen Z Talibros: Is The Taliban Trading Meme Coins in Afghanistan? appeared first on 99Bitcoins.
