Is usage of memo() allowed inside functional component?

I need to create an animated component inside of another function component (there are reasons as to why I can't to do this outside of it).

So far most optimal and cleanest solution I cam up with is following

export function Input({ placeholder }) {
  const AnimatedText = memo(Animated.createAnimatedComponent(Ui.Text))

  return (
    <AnimatedText>
      {placeholder}
    </AnimatedText>
  )
}

I think this works, but have never used memo like this inside a functional component and after looking in the docs, was not able to determine if this is allowed or not, hence this question: Is this ok to do, or should I use useMemo with empty dep array?

> Any valid React component, including functions and forwardRef components, is accepted.
>
Reference: https://react.dev/reference/react/memo#parameters

You can do so, but react recommends not creating component in a component.

You may not need to use memo

https://react.dev/reference/react/memo#should-you-add-memo-everywhere