These type of coins are quick in & out, only the first 5-10 mins buyers will earn from this. If it already pumped a lot then I suggest don't put your money on it. If ICO was popular last bull run, meme coins are now the thing that makes some people earn some big amounts. I think these coins became popular because of binance smart chain and DeFi platforms now, creating tokens under bsc and listing them on those platforms can be done easily and not that expensive. I think the term rugpull was also created because of these meme coins.
What I think is that these kinds of coins are very predictable to someone who deals with Bitcoin or Ethereum. The pump and dump is pretty obvious and many buyers will only spend minutes during the pump to sell what they sold when the price was low. Meme coins is really what they are, just memes and not really to be made into serious asset. The popularity of these coins was just because of the platforms and because some celebs think they can influence people into buying if they made a tweet or two.