Look what is happening in meme coins. I was not paying attention at all, because common who will care about mems?!
However, just checked here:
https://coinmarketcap.com/view/memes/NOW this season is all about MEMEs!
Like who can explain when some MAD, Dasha, Dog or SNEK can gain 241%, 151%, 121%, and etc in a 7 days?
And what they are, do anyone know? Does anyone care?
The simply explanation is that they are just for pure pump and dump, as you have said, we never heard of them. And so there are groups or even the developers themselves that could be the one pumping this coin very hard and for obvious reasons, to make a lot of money for them.
And if you care about them or now that they got your attention, you might just be very careful as you might fall for the trick of it. I mean, you or there could be some noobs who think that they can also make a quick and easy money by looking at this meme coins. But then when they invest, suddenly it goes and dumped hard and then you lose a lot of money and then you blame the market itself. So just a word of caution here, just be very very careful of this meme coins.