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The crypto market has seen a significant rally, driven by a Bitcoin-led recovery that has improved investor sentiment. Bitcoin (BTC) has surged by approximately 4% in the past 24 hours, reclaiming the $105,000 mark. This upward trend in Bitcoin has had a ripple effect across the broader crypto market, with altcoins and memecoins also experiencing substantial gains.
Ethereum (ETH), the second-largest crypto asset, outperformed Bitcoin with an 8% gain, now trading at $2,411. This performance is roughly double that of Bitcoin's gain. Among the standout performers,
(SEI) led the market with a massive 43% gain in the past 24 hours, emerging as one of the day’s largest gainers. Other tokens like (SUI) and Chainlink (LINK) also stood out, posting gains of up to 15% and 10% respectively.Solana (SOL) and Avalanche (AVAX) joined the rally with similar gains of 7.8% and 7.6% respectively, sitting at trading prices of $144 and $18. XRP (XRP) and Cardano (ADA) also posted gains above 8%, trading at $2.18 and $0.583 respectively.
Memecoins stole the spotlight with even bigger moves. Dogwifhat (WIF) jumped 25% as the strongest gainer among the coins, Popcat (POPCAT) climbed 15%, and Pepe (PEPE) rose 14%. Others including Floki (FLOKI) and Bonk (BONK) also notched double-digit gains of around 13%, placing them among the day’s top gainers. OG memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) joined the rally as well, logging more modest but steady gains in the 8% to 10% range.
This rally in the crypto market is a clear indication of the improving investor sentiment, which has been driven by the recovery of Bitcoin. The gains across the altcoin and memecoin sectors suggest that investors are capitalizing on the momentum created by Bitcoin's upward trend. The performance of Ethereum, which outperformed Bitcoin, further highlights the strength of the current market rally. The significant gains in tokens like Sei, SUI, and Chainlink, as well as the impressive performance of memecoins, underscore the broad-based nature of this rally. The steady gains in OG memecoins like Dogecoin and Shiba Inu also indicate that the rally is not limited to newer or more volatile coins, but is affecting the entire crypto market.

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