Do you know why this round of copycats can't take off?
Because of high valuations, low value, and no hype value. Moreover, this round is driven by institutions, which is different from the previous few years. It is driven by retail investors and belongs to the early market. Now the market scale is large enough that retail investors have zero pricing power in this market.
On the contrary, memes that were previously thought to be less valuable than copycats have performed better.