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Social media has revolutionized communication, offering users unprecedented connectivity and access to information. While these platforms provide numerous benefits, they also pose risks to mental health. This paper explores the multifaceted impacts of social media on mental health, examining both positive and negative dimensions. The study investigates key factors such as anxiety, depression, self-esteem, and addiction, while also analyzing potential mitigative strategies. Evidence from empirical studies and theoretical insights underscores the need for a balanced approach to social media use.