The cryptocurrency market experienced a strong rally, led by memecoins such as Pepe coin, Dogecoin, Shiba Inu, and Bonk. Pepe coin saw an impressive surge of 14%, driven by its popularity among memecoin enthusiasts. Dogecoin also rose by 7% due to its enduring popularity and Elon Musk's appointment to lead the 'Department of Government Efficiency.' A crypto analyst believes that if Dogecoin breaks through a crucial resistance level, it could generate increased buying interest. BONK, a memecoin based on Solana, gained attention after being listed on Upbit, the largest cryptocurrency exchange in South Korea. Shiba Inu also saw a surge in price, and it was noted that crypto whales transferred a significant amount of Shiba Inu tokens within the past 24 hours. The rally in memecoins also sparked positive sentiment around altcoins, with Ethereum surging over 9% in the last day.



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