Cryptocurrencies such as Dogecoins, Shiba Inu, Pump, and others related to memes are also taking shape. That fun is initiated by sheer psychological stimulation is true For this reason Here are the key drivers behind these investments:Here are the key drivers behind these investments:

The first fundamental attribution is known as the Fear of Missing Out (FOMO).
FOMO leads investors to the memecoin bandwagon because they don’t want to be left behind with gains post on social media apps.

Herd Mentality
Some investors copy the actions of others, especially in the extrapolative uncertainty states which leads to the demand, its reinforcement and the prices’ increase.

Thrill and Excitement
Several proneness to risk comes out from the memecoin investment, people with an adrenaline rush or like the movies where the hero takes chances make an investment in meme form everything depends in a day on the stock market movement.

Social Proof
Investments that get celebrity endorsement, for instance Elon Musk, give an impression that has been endorsed by other people, therefore are valid.

Community and Belonging
The meme badge creates social interactions, and brings together the communities to invest hence making it feel more like a social activity.

Cognitive Biases
Prospective investors are blinded by confirmation bias and cognitive dissonance when it comes to memecoins; they only look for positive things to say about their investments and do not pay heed to negative market signals.

Get Rich Quick Appeal
This is what leads people who are interested in obtaining a huge amount of assets without any hard work and effort being done.

Conclusion
People invest in Memecoin based on emotions, such as fear, greed, beliefs/ समाजीकरण कारण, and cognitive errors. Knowing these bias can assist those in the investment field of cryptocurrency in comprehending the psychological properties that may be influencing the trade.