Meme stocks -- or hot stocks that gain viral followings on social media -- often trade on market hype instead of any fundamental strengths. That's why many investors broadly dismiss meme stocks as low-quality investments for short-sighted traders, and why many of those buzzy stocks were rightfully wiped out as interest rates rose over the past year.

But not every meme stock is a troubled company. Some of those meme stocks -- like Coinbase (NASDAQ: COIN), Shopify (NYSE: SHOP), and Unity (NYSE: U) -- might actually head higher over the long term.

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Source Fool.com