Recently, the Meme coin market has once again sparked a wave of rally. The Chinese Meme coin "踏马" with built-in meme attributes performed aggressively today, with its market cap briefly surpassing a new high of $27 million. Although it later retraced to around $24.13 million, the 24-hour increase still remained at 62%.

According to GMGN data, this wave of market activity is driven by typical sentiment factors. The market's enthusiasm for Meme coins often stems from topic effects—just like the recent hot discussion around a major exchange. Once sentiment is ignited, the inflow of funds accelerates uncontrollably.

Notably, top Meme coins like DOGE, SHIB, and PEPE have recently become market focal points. Their correlated performance reflects the liquidity characteristics of this asset class: they are prone to significant volatility triggered by external events or emotional swings.

From another perspective, the recent trend of "踏马" also illustrates the current mentality in the crypto market—users have a natural curiosity for novel topics, and breaking market caps can further attract attention. However, such highly volatile assets also carry corresponding risks; short-term euphoria often conceals potential pullbacks.

What do you think about this wave of Meme coin行情? Do you believe it can continue to rise, or is it just a short-term hype?