While most memecoins lack real use cases, they seem to thrive more than other crypto projects with genuine applications. I believe many are driven by the desire for profit, willing to take risks even with highly speculative investments like memecoins.
Hype is what gives Memes their value. People like hype and anything that promises them mouth watery benefits. That's what memes promise. Those who get in early at several zeros easily make unbelievable profits and that drives their greed to participate in the next meme project and also in the next, it goes on like that. In 2021, I invested around $50 in a memecoin that that gave me over $5k. It was like a dream. Sadly, greed didn't allow me take profit until it went down significantly. We're having a repeat of massive gain alts this season like we had in 2018. Everyone should position and take advantage of that.
Currently, I'm trying my luck by joining meme contests on X (twitter), hoping to win some memecoins.
Twitter is the main place to catch airdrops and fresh projects but one has to be extremely careful not to get scammed.