Liquidity on Solana has rebounded quite well, and market sentiment has clearly warmed up. But the question at hand is, what is the core driver of this current market trend?

It seems there are only two possibilities. One is that the AI concept has truly brought new imagination space, but here’s a caveat—if it's just AI layered onto existing token models, then it's basically the same old story. The real highlight should be the emergence of new speculation logic and interaction forms that generate genuine FOMO, rather than just simple price games. Only then can the market ceiling be pushed higher.

The other possibility is even more straightforward—that this is a continuation of the Bags cycle, and the ending of this story is actually quite predictable. This kind of pattern usually falls into a foreseeable decline trajectory.

So the key still depends on whether this wave of market can break through the old routines and truly incubate something new.