I am wondering what the fate of projects like Volt inu, Baby Doge and other meme coins would have been if Elon Musk never supported Doge coin, would Shiba inu ever made it to top 20? What would have happen to meme coins? Will there ever be any if Elon never existed?
All this memecoins only became popular after dogecoin was a success so if dogecoin didn't explode as it did then they won't have come into existence. Those project weren't even developed few years back.
We only had one memecoin which was dogecoin so all this other memecoin are just benefiting from the fame of dogecoin, people are only investing in it with the hopes of getting similar gains of dogecoin.
This kind of behaviors is common in the market since lots of project comes as a result of the success of similar project in the same section. We won't have had layer 2 project if polygon wasn't successful.