Simply because Meme coin has high volatility which can make small investors an instant rich or poor whichever comes first. Some of the Meme coin already prove this high volatility profitability like what happened to Doge, Shiba and Floki. Most the small investors that invest money on it got a huge profit if they hold until ATH.

This kind of proof what makes meme coin more popular on normal trader. In general meme coin is a useless coin and there's only small chance that you can buy profitable meme coin.

Conclusion: Meme coin is the Ponzi of crypto!