Meme coins do indeed carry a considerable degree of risk, but they also present an opportunity for substantial gains if timed right, allowing room for potential exponential growth. I'm not familiar with PENG, but it seems promising to consider its potential within the Solana blockchain. I only recently saw trending meme coins on social media, like BONK and WIF, which caught attention and gained support from exchanges.
Meme coins, in general, are for people who have money that they can risk and afford to lose because as you said it, they carry a considerable degree of risk and due to that, one can lose their money in case the meme coin they have invested their money in doesn't manage to gain enough hype and investors in the market and ends up dying soon after it is launched.
So someone who has a limited budget, knows they can't gamble with their money, should never invest in meme coins just because they give an opportunity to the investors to earn substantial profits because that isn't guaranteed. You can't keep gambling just because there is a possibility for you to hit a jackpot no matter how tiny the chances of that happening are.
Me myself considered to be experienced when it comes to meme coins on which i could say that you could really be able to make money if you do able to hit up the right meme but of course
there's no way that you could be able to apply some analysis through it because this is the origin of these meme coins creation and there's no such analysis that you could be able to apply on verifying everything
but somehow we do have tools on which we could make use to find out whether its renounced, locked LP and other various informations which it would really important.
It is really just that it would really be needing up some bit mix of luck when dealing with meme coins. I dont see for it to be directly on having a utility specially into its first launch.
You would be seeing those basic site telling the token specs of course. If the community would be able to recognize it then its good but if its not then it would die and wither away.