Can PEPE lead the charge to trigger a new wave of altcoin season? This question is testing the entire market. Altcoins that performed strongly earlier suddenly gained momentum—are they truly experiencing a revival of ecological enthusiasm, or is it just a fleeting moment driven by speculative funds? From trading data, the attention to small-cap coins is indeed increasing, but whether this momentum can be sustained and develop into a stable market trend still depends on subsequent fundamental support. Investors should be cautious of the risks brought by high volatility.