Why are more and more people interested in gambling on meme coins?

The reason is quite simple: the potential returns of meme coins are enormous. For instance, PEPE reached a market cap of $4 billion, and NEIRO peaked at $800 million. If you bought them when they were just starting out, with a valuation of only $1 million, PEPE increased by 4000 times, and NEIRO surged by 800 times.

In contrast, those infrastructure projects or VC-backed projects that are listed on exchanges often have valuations in the billions of dollars already at the time of listing. Even if the market turns bullish, there is not much room left for further increases.

This is why people are more willing to gamble on meme coins—because the odds are high. The crypto space is inherently speculative, especially when it comes to trading altcoins. If the odds are not attractive enough, many people simply won't participate. Of course, meme coins also carry significant risks, and they can be "rugged" (scammed) at any time, but investing a small amount to test the waters is not a big deal if you incur a loss.

On the other hand, those infrastructure projects require larger investments, and if a crash or a halving occurs, the losses can be much more severe.