They call them ASIC resistance algorithms. So they resist but are not ASIC proof. Because of the memory usage, it increases the cost to produce a machine hopefully making it less profitable for them to make it for this coin/algorithm. It should do a good job of identifying bots and help reduce those since the memory usage will hopefully alert the user that their computer is infected.
Other than that the mining difficulty is about to crack 29k, ouch.
Not only that but the price is diving too just like pretty much almost every altcoin right now, it's really not worth mining if you're just selling it right away.