The altcoin market is experiencing a surge in activity, driven by the popularity of meme coins. This trend has been observed through various metrics, including the Altcoin Season Index from CoinMarketCap, which currently stands at 43 points out of 100.
Recurring traders have dominated trading activity on Pump.fun, with 79.3% of trades accounted for by this group on May 7th. The meme coin sector has seen a significant increase in value over the past seven trading days, accumulating a total growth of 7%.