What exactly are meme coins?

Meme coins are highly volatile cryptocurrencies inspired by popular internet or cultural trends. They carry no intrinsic value but can dramatically soar or plummet in price, making them particularly risky investments. These digital assets are generally viewed as indicators of retail investor interest in the cryptocurrency market. Despite their popularity, investors should approach meme coins with caution due to their lack of fundamental value and extreme price volatility, as highlighted by recent scandals involving significant investor losses.