Why do Memecoins on Eth network make people millionare?

I have noticed that most coins that do 10x 100x 1000x 1000000x etc are all on eth. But if we compare it with other networks. Coins on all other network come out to be scams honeypots rugpulls. Also Gas fees on ethereum are very high. So how is that possible that they collect so much money on such high gas network… In short what i meant to say is that people should ditch ethereum and start pumping coins on some other chain or layer…what are you guys opinion. Did you guys manage to find a good gem on other chains. If so then please share any good resources.


The high gas fees is one of the reasons eth meme coins or degen plays do well. People aping to those coins have enough liquidity and willing to hold for 10x. While in other chains, with cheap gas fees, you know the whole story. Moreover Eth has a strong community.

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But it’s ultimately in the end the money of small retailers getting trapped. what makes them even invest in such high gas fee network.

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Maybe because the Blockchain is trusted