The biggest connection that these meme coins have is they are built on general purpose smart contract chains that have built in liquidity. People on ETH are willing to dump millions into projects built on ETH. With Solana having mooned recently it's no surprise that a lot of new money has cash to burn on a stupid new thing.

Hive is actually the exact same way we're just cash poor at the moment. I must admit I've also wondered how the marketing and viral nature of these assets materializes.