You have rightly said it, the hype is the reason for the growing interest and the same reason many people are going into it despite the risk. I feel the risk to reward ratio is very high, hence some people feel the risk is worth taking. Imagine getting X1000, this is something that is not easy to achieve in many crypto projects
I think it was the potential profit that they can get, is the root cause of it but hype is only like a stepping stone for them to achieve it once they are successful. They believe that high risk also comes with high reward, so they go for it and they know that nothing will happen to them if they will just stay to where they are now. X1000 is also possible in a non-meme coin project but it can only take time for them to achieve it and we know that many people are always lacking in patience. This is another reason on why they go for the meme coins instead.
I feel the risk to reward ratio is very high
I think you are saying that the risk is high compared to the reward but it must be equal like I said earlier. And if the risk is higher than the reward, then I don't think someone will go for it.
