Traders are embracing a wave of meme doubt over South African rand's sustainability, with bearish options positions hitting their highest levels in nearly three years. Bloomberg's recent social media post underscores the market's growing skepticism about whether the currency's impressive rally can be sustained. What started as straightforward currency appreciation has morphed into a debate about whether the gains are justified—classic market doubt setting in. As investors and traders reassess the rand's fundamental drivers, the surge in bearish betting reflects deeper uncertainty. Options markets, typically where sophisticated traders hedge their positions, are now pricing in significant downside risks. This clash between past momentum and present doubt signals that many market participants believe the rand's run may be approaching an inflection point. Whether this meme doubt proves prescient or merely reflects temporary market anxiety remains to be seen.