Well I do not want to say it is like that a scam. There is some people that did make gains from investing in it. But for me I will not invest in any project that is like Pepe.
And I do not think if you hodl it for along time you will make alot of profit. We will make alot more profit if we hodl meme coins like Doge or Shib.
For every dollar that someone has made, someone else has lost it. Just because insiders profited and a few lucky individuals that does not make something legitimate. All of these projects are scams.