Gambling.
Purchase the hype, hold on to it, hope it does not end before you are out, dump your hype onto others while you can and watch their lives burn away and get wrecked. This is why I have little respect to most of these Shit Coins. What people are doing is exactly this. Buy, hope, dump, watch. In my eyes, it looks almost like being the complice to a Crime.
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agree with what you said that people who buy memecoin are actually just gambling their money and see if they can get big profit from it. these people do not care how the token is developed, what is important to them is how they can profit and sell faster than others. seeing this it is clear that memecoin like $trump, $melania, and many other shitcoins are just gambling for the majority of its holders... this is not an investment like bitcoin.