Essentially, it's become a case of "follow the money" - whichever coin has the biggest marketing budget, that's the one I invest in, aiming for quick gains. It's a rather blunt strategy, but it's yielded results.
You might successfully chase good meme coin with this strategy since those meme coin that manage to be on spotlight are those project that spend tons of money on marketing but this method is not a foolproof since we all know that those project that spends tons of money will always get back their expenses from the investors money later on.
So there’s still a risk that you might lose in the end if your purchase timing is a little but late or you didn’t take profit right before the team use the liquidity on the LP for their own token conversion.
But your method is indeed good as basis on finding good meme coin.