Meme Coins Heat Up Again Amid Historic Price Action

The meme coin market is heating up again, leading some to wonder if a new crypto bull market is emerging.

New launchpad platforms like Pons and StonkFun are gaining popularity, with over 22,600 new tokens launched on Pons in one day alone.

Pons brought in $142.9 million in fees in the 30 days leading up to September 22, while Pump.fun, another popular platform, generated $145.1 million in fees across its launchpad and exchange.

Historically, meme coin rallies occur towards the end of crypto bull markets, with Dogecoin's epic run happening a year after the 2020 Bitcoin halving.

However, it's unclear if this current surge is indicative of a new bull market, as the bear market may be over but there hasn't been a meme coin season positioned so early relative to a halving.