Yes, currently many meme coins use the Solana network, and like meme coin lovers have started playing there. Unfortunately I don't have a good experience in meme coin, I once invested in BSC network meme coin, but experienced a lot of losses.
Memecoins have no basis in technology or solutions for the market, they are created based on some funny narrative to attract investors. In general, most memecoins will fail, so the teams behind memecoins often choose Solana to take advantage of low fees and a vibrant ecosystem. I don't expect any memecoin on Solana, investing directly in the SOL token may bring better returns and very low risk.
The market has proven that the memecoins wave cannot bring growth to SOL price. I have high expectations for DeFi, specifically LSD and LRD, on Solana to help SOL create a new ATH in the DeFi summer and in the bullrun.