the essence of what a memecoin is is to take something that has zero inherent value, might literally be utter slop, and give it "value" anyways by forming a community around it and choosing to send it as high as humanly possible currently the opposite is true, and traders instead treat memecoins like they're swiping on tinder, dropping one coin to rotate to another in search for a "better" narrative, which is a never ending loop that ultimately results in lower ceilings for all tokens @BillyM2k said himself that when he created dogecoin, it was to make fun of the crypto bros who would rotate between different altcoins every day in search for "the next bitcoin", highlighting the stupidity in that thought process and making the point that "value" is subjective and if people wanted to they could make a stupid dog coin outperform every existing altcoin (and he was right) in other words, the inception of memecoins was literally a direct response to the hyper rotation in the crypto space it could all be so simple
