Meme coins are making a strong comeback. PEPE and BONK are among the leading gainers, posting double-digit percentage gains throughout the day. The broader meme token category has collectively accumulated approximately $3 billion in market capitalization over the past 24 hours, signaling renewed retail interest in this volatile segment.

With this surge in activity and capital inflow, traders are now speculating whether we're entering a new meme season. The cyclical nature of meme coin rallies suggests that if momentum persists, we could see further price discovery and increased trading volumes across these assets. Of course, the volatility remains high—both upside and downside moves can be sharp.