I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing
Unfortunately I cannot see the value of this kind of meme coin. They only utilizes the hype of the projects to gain more investors, moreover through the community. Many people are promoting those shit meme coins. any teams are also creating shit meme projects after the rise up Doge coins. I think that now, the basic thing of creating meme coins are none, only hype, utilizing the pump and dump to gain profits for themselves.
That is the only reason those coins keep appearing, people know they do not really have any function, however they also know that a few of those coins may become incredibly popular and as such they keep investing in them thinking that if they invest early they can obtain a fortune, and while they are not wrong the risk they are taking is huge, since there are a lot of meme coins that never gain any support from the community and their price collapses not long after they are released.