Hype. Talking coin memes. There's a SANTA token. This is a token class that is currently booming. The beginning and introduced is this year November 2021, and quickly developed an online community that can not be strong stand alone in this first week.
Talk about hype marketing which I have seen before and also witnessed its collapse after a few years with the ICO craze and from its ashes came the other initial offering schemes and more.
Every year we see some cash-grab methods to scam people off their precious bitcoins and this is no new for me. Memecoins have been making the news but the reality of the scheme is much similar to how ICOs used to go bankrupt - owners would pump their coins a lot and then exit before the investors had any clue what was going on. Happens to every unregulated market and the ones foolish enough to buy into it will suffer, not because of their lack of knowledge but their lack of insight into what is a legitimate project and a hype.
People can create new coins everyday but they dont mean it to become another bitcoin. So buy bitcoin if you want to invest in crypto, but dont go for the new altcoins.