Doge and Shiba have set standards in meme coin so there are lots of new projects who are trying to imitate them. We can't deny the fact that Elon has a huge influence on why meme coins have been known and are continuously making a noise in the blockchain industry. They might not have a specific purpose but are still profitable since lots of investors still keep on buying them.
It all revolves around them and everyone who's into meme coins and made profit for sure followed Elon Musk. Now, there are a lot of batches coming in and out with these meme coins.
It's still a test of luck for these new coins that are naming their projects with another 'INU' and that's how it goes with the new meme coins that are coming in the market. It's so fed up that it's easy to make these meme coins that eats out a newbie's money.