Meme Coin Phenomenon: Speculative Frenzy and Community Culture**
From Dogecoin to Pepe, meme coins have repeatedly created wealth myths through social media dissemination and celebrity effects. However, the vast majority of meme coins lack actual value, relying on market sentiment to drive their prices, which poses extremely high risks. Investors must be wary of 'pump and dump' scams and rationally distinguish between entertainment participation and investment behavior. Despite ongoing controversies, meme coins reflect the grassroots culture of cryptocurrency, becoming a unique presence in the crypto space.