It is very important to develop a project even when market falls. But when the market falls many people stop development because they do not have enough investment.
That is why many people desapointed in the industry.
Meme coins were very popular when the cryptocurrency market rose. They rose in price even more than other altcoins that is why people bought meme coins.
For meme coin it is very important to have a big community. And it is necessary to support the community not to lose it.