MemeCoin Boom – ELI5

I get the rejection of traditional alt stuff that promises so much with fancy roadmaps, technical innovation, change the world BS, when in reality its mainly vapourware. Right, so the evolution is turning most of this section of the market into a giant casino around memes. I am still on board, it sounds fun.

Where is the sucker money? There is a saying in poker that if you look around the table and you can't tell who the sucker is, then its most likely you. I see very little to no retail money investing in these coins. The on/off ramps are just too much of a leap for the real dumb money to get involved.

It feels like a bunch of semi sharp people ,at least in terms of Crypto meme knowledge all trading these things back and forth between themselves. Where is all the sucker/dumb money to make this profitable? Are the platforms trading these things the only real winners?

ELI5 please. I'd even love to just hear some history, stories behind it all as I find it fascinating while not actively participating.