#MemecoinSentiment Meme coins, such as Dogecoin or Shiba Inu, exhibit a highly volatile price dynamic driven by sentiment. Traditional option valuation frameworks, which assume that volatility arises from fundamental risk factors, may incur errors in pricing derivatives on these assets. This article develops a theoretical model in which the volatility of meme coins is an increasing function of investor sentiment. By endogenizing volatility, we show how sudden increases in online publicity or community enthusiasm can drive option prices—especially for out-of-the-money call options—to levels that exceed standard Black-Scholes predictions. Our approach highlights a form of reflexive valuation: when markets expect greater enthusiasm, implied volatility spikes, and option premiums correspond, regardless of underlying cash flows.