What actually makes a successful Meme Coin?

I started researching meme coins at the beginning of the year when I saw dogwifhat on an exchange and I almost bought it and then my bf told me I was crazy to invest in a meme coin. Well, I listened to him and I would have been a millionaire had I not listened to him.

Anyways fast forward to now I have been watching the market and have been taking a particular interest in meme coins. It seems that there really isn't rhyme or reason for these massive jumps in price that are so parabolic. So, my question is what actually is happening here? There are some projects that are so low quality that don't really offer great content or effort that are skyrocketing and then some projects that put in a ton of effort that don't see that parabolic moon shot for months, if at all. Why? Is it the marketing? Insider stuff?

There are a few coins I am invested in now and its really because they put in a ton of effort, community vibes are awesome and make great content, animations etc. However, I see other coins with low effort that are mooning? Is it just patience for the really great projects? Would love some input on this! It's such a wild space but it seems if you find the write project, you could have some serious gains. What do you look for? Which coins do you see having long term potential in the meme space?