Back in 2021, retail investors were skeptical about meme tokens, since the tokens do not bear any values or utilities and it was really like casino and the meme meta lasted for only short period of time. DOGE and SHIBA were the only winners though since they formed massive community and created 'cult' culture.
DOGE had to thank 'Elon Musk' for endorsing the token and call himself as 'DOGE FATHER'

However, the industry has become totally different in 2024, turned meme token into new narrative in the Crypto space.

And, I have found some reasons why people are following Meme tokens over other alt coins.

Easy

Typically, blockchain technology is something that cannot be easily understood by retail investors. If you have not studied it, all terms and words from blockchain, is probably never heard in our life.
For myself, it took ages to learn how to use 'Metamask' wallet, when I firstly started learning the Crypto. Decentralized finance??? I questioned so many times about why we need decentralized system in the world. People have already adopted centralized system over a long period of time and we have become so convenient with the system. But, meme tokens are not simply complicated at all. We all love dogs, cats, frogs, hippos and cute creatures and they have made more easier for people to access to the Crypto space.

Community

I have experienced NFT bubble back in 2021 and 2022, where so many people gathered in the discord and grinding for Whitelist to mint their cute NFT. Communities had to form in the discord and people from different countries, were able to meet in the cyber space and became friends. They talked about daily life, hobbies and etc within the community. That was truly amazing experience for me. And, meme communities are similar to those days. People start forming the community and creating the culture there. Not only talking about daily life, people also do more meaningful stuffs such as donation etc.

Casino environment

What is the main reason that retail investors getting into Crypto? The answer will be the high volatility of the token price and this gives more opportunity for people to earn larger amount of money over traditional stock market. Yes! It is high risk / high return investing method and it should be more called like 'Casino.' People are betting on it rather than making stable investment. Meme tokens' price volatility is even higher than alt coins. Many degens are dreaming of becoming rich with meme token trading and some of people earn unimaginable amount of money for a short period of time. I must say that this is so risky and if you do not learn it properly, you could lose all of your money. So, my writing is not financial advice on meme tokens. You must know the risk and enter into the market.

Conclusion

Supercycle is coming for meme tokens in this Crypto bull season. I believe that we will see numerous multi-billions marketcap meme tokens in next year. There will be next PEPE or DOGE or SHIBA INU. If you have become interested in meme tokens, it is probably the right time to study about it and make yourself put in the position before the supercycle begins.