'Meme coins,' digital assets rooted in internet culture, are gaining significant traction, with established coins like Dogecoin taking off and other newer coins like dogwifhat, Pepe, and Bonk having explosive moves and reaching multiple billion dollar market caps. Even though investing in such assets carries high risks, including possible loss of principle, technological failures, and regulatory challenges, users in the space are having fun betting on which coins will be the most viral.