ELI5: What are the main factors that influence memecoins?

In terms of general economy, crypto cycles, strength of BTC, ETH, SOL, general utility etc., what would you say are the most influential factors in making any particular meme coin explode beyond a one day pump and dump?

What part of the cycle would you say we’re currently in, and based on previous trends and current economic factors how are you expecting the rest of the year and beyond to shape up?

I know these are largely just lottery tickets, but there seems to be some rhyme/reason behind the ones that work out, and I’m just trying to learn as much as I can. Any info is appreciated, or being pointed in the right research direction as well. Thanks!