I don't think there is anything to research much about the project beyond the community support when it comes to meme coins. Everyone who throws some money into the meme coin wagon with the hope it would become the next Doge, Shiba Inu and etc but we never know until it happens so memecoins are nothing but gamble.
It's mostly just checking some minor metrics — number of holders, social media following, number of mentions on Twitter, that stuff. That, and it'll come down to gut feel — how highly likely do you think that that certain memecoin can reach virality? The latter part is where most people get it wrong, hence why there are a lot of people that lose money on trying to guess the "next big thing(memecoin)".