Over the past few years, meme coins have grown in relevance and attained a high status within the cryptocurrency industry. Meme coins are a type of cryptocurrency usually based on popular Internet memes and events. As a crypto category, meme coins are renowned for their excessive utility, a quality that makes them ideal for long-term cryptocurrency investment in the ongoing bear market. At the height of the meme coin frenzy, several meme coin holders became overnight millionaires due to the massive surge in the value of meme coins. It is a phenomenon that could very well occur again in the current climate within the industry.