Meme coins are not well-regarded by Muslim scholars, primarily due to the high risk of financial loss and the significant uncertainty about the future of any particular meme.

On our the platform Ethical Node, we have categorized Dogs as questionable, leaving it to the user’s discretion. You can find it on the list on top of the main page.

From my perspective, quality meme coins are supported by strong teams, and even ecosystems could potentially be developed around these memes. Therefore, at this initial stage, I personally don’t see anything impermissible in buying or selling DOGS or NOT. However, I am unsure of where a particular meme might lead, what tools may be created around it. For instance, Hamster Kombat was fine at first, but then it started to heavily push restrictive betting, which makes me feel that, at this stage, it’s safer to publicly state that this falls into the questionable category.

Staking for Notcoin. Is it Halal to “stake” NOT or Dogs and get a passive income?

Meme coins lack a conventional reward system or direct economic incentives, as its coin supply is managed via a smart contract. There is no actual “mining” or “staking”, those coins are build on other ecosystems (in this case it is Ton ecosystem), not on its own blockchain. Any instrument that claims to be “staking” for Dogs, NOT or any other meme coin is not legitimate, there is no actual Proof-of-Stake protocol, which is why it is impermissible to use.

Allah knows best.