What utility do meme coins offer?
For a project to challenge and usurp, it would need to offer more utilities than Bitcoin does or improve on the aspect of decentralization, security and immutability.
Meme coins like many other altcoins are purely for speculation, causing the changes in price.
Even without any utility, they are performing better than bitcoin. As an investor, will you not consider returns while making a choice between which crypto to invest ? The fact that they are rising so fast in comparison to bitcoin is an indication that there is more demand for mem coins in comparison to bitcoin.
Crypto world is very unpredictable. I would not be surprised if some new altcoin replaces bitcoin as the number one coin in terms of market cap in future.