Meme coins dominates but ruined many people too, I haven't seen anything that's closer to ponzi scheme in this crypto space than those of meme coins, just get in before others and you will be fine if you take profits early, one day your money is doing fine and the next day it's all gone.
I can say that meme coins are like a ponzi scheme although it is not always like that. Anyone who manages to get a legit meme coin will get a profit of up to 100x when it is listed on the exchange. But I also disagree with you because not all meme coins work like that. Some legit meme coins take a few years before getting big profits. This is like the Doge, Shiba and Pepe projects that make investors get profits of up to 100,000% after a few years.
meme coin's can not be legit it's old or new this is doesn't matter, now you can say that how people's got profit's 100x or high, exception can not be example, like shiba and doge was exceptional and those given another level of profits but thousands of meme coins in market and mostly looks high risky and those will be dead in the long run.