I've been investing in various memecoins, rarely seeing any with a decent whitepaper. Most seem similar, except Floki with its utilities. I prefer coins like Floki - multichain or with a good whitepaper.
They are imitations of existing meme coins, so their model is very similar to other memes, so they don't bother to create a whitepaper.
A whitepaper is in deep research for supporters to understand the project fully, so since they are just an imitation, they can exist without, and investors will just invest because they are relying on hype brought about by the hype on memes.
Calling meme coin buying as an investment looks like very wrong statement, I better call it as the form of gambling with hope to earn huge PnL!