Memecoins are coins that exist mostly because of community, humor, and viral attention. Dogecoin, Shiba Inu, Pepe, Bonk, all in this club. They have no real product or revenue. Their value is purely how many people decide to care.
They can absolutely make people rich. They can also go to zero in a week. The math is brutal: most memecoins lose 95%+ of their value within a few months of launch. The few that survive are the exception, not the rule.
If you want to play in this space, the only sane rule is: never put in more than you'd be okay losing entirely. Treat it like a Vegas budget, not an investment. And take profits along the way. The people who lost the most aren't those who bought too late; they're the ones who never sold when they were up 10x.