Most Meme coins are now dead. People thought they were going to move like dogecoin, it doesn't work that way. People are scared of putting $5k in bitcoin but choose to put $20k in Meme coin and today they are rekt and helplessly watch bitcoin soar.
Except dogecoin.
You're right, that most of them are likely to be dead already and investors of meme coins are still hoping that someday these coins will make them rich.
With those likes of safemoon, shiba, and others that have pumped before, they're too late from the pump that those did.