You meant about this, right?
https://coinmarketcap.com/currencies/reef/That's a serious project and why not? This project gets backed by so many big companies and it has a very big community too just like safepal. That makes me doubt if that was a fake project.
I think that you should visit reef site and try to DYOR. You may find a lot of interesting stuff right there.
That's a legit project and this token has a very big mcap and daily trade volume too. It sounds strange if you called this as a meme project.