The crypto market surged in a relief rally as geopolitical tensions eased following a ceasefire announcement between Iran and Israel. Major cryptocurrencies saw significant gains, with Ethereum rising by 6.04% to $2,444.51 and XRP increasing by 7.01% to $2.20. While these cryptocurrencies performed well, meme coins such as SPX6900 and Dogwifhat exhibited even higher volatility and explosive gains. SPX6900 experienced a 28% rally, supported by strong technical indicators suggesting further upside potential. Similarly, Dogwifhat saw a 23% rise, driven by a shift from resistance to support, potentially indicating a recovery trend. The overall cryptocurrency market capitalization grew by 2.9% to $3.23 trillion, buoyed by a strong performance in altcoins, including a notable 46.5% increase in SEI. Traders are optimistic about continued upside in both traditional altcoins and meme coins as market sentiment positively shifts and risk appetite increases amidst declining safe-haven asset demands.

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