Help me understand why pumpdotfun is popular

Hey degens,

I wonder (for ages) why pumodotfun is so popular. I understand:

• people create communities with token
• engagement with a ‘fan base’
• greed

What I don’t understand is

• the longterm purpose of a Meme
• why people would buy in other than FOMO

Disclaimer: I am building a project that aims to tokenize Open Source software while sharing fees with the developer. So I thought, adding purpose to a memecoin would make people curious enough to try out tokenizing of Open Source repositories. Still, I wonder if people agree auch a project has legs long-term.

Can the SolanaMemecoins community provide insights?