Meme coins are a typical product of the 'entertainment financialization' in the Web3 era. They reveal the power of collective psychology in decentralized networks, but also expose the irrationality of financial markets. In the long run, only a very few projects can survive cycles, and most will eventually become bubbles. For investors, participating in meme coins is more like a cultural experiment rather than an investment behavior, and it is essential to maintain a clear awareness.