Cat-themed memecoin Popcat (POPCAT) was the outlier Tuesday, trading in the green amid a broader memecoin meltdown precipitated by fears of war in the Middle East.
What happened: The Solana SOL/USD-based coin was up 0.28% as of this writing, becoming the only cryptocurrency among the top 10 biggest meme coins by market capitalization to record gains.
POPCAT's trading volume popped 45% to $209.47 million over the last 24 hours, and the coin was also among the biggest gainers in the broader cryptocurrency market.
The feline-inspired token has been the market's biggest gainer in 2024, exploding a staggering 12383% year-to-date.
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The gains were in stark contrast to the bloodbath seen elsewhere, with heavyweights like Dogecoin DOGE/USD and Shiba Inu SHIB/USD shedding as much as 7% of their value. The total meme coin market capitalization contracted 5% in the last 24 hours.
The slump followed escalating tensions in the Middle East, after Iran launched a missile barrage against Israel, causing investors to dump risky assets.
Market bellwether Bitcoin BTC/USD was down 2.9% as of this writing, while Ethereum plunged more than 5% in the last 24 hours.
Price Action: At the time of writing, POPCAT was exchanging hands at $1.01, up 0.28% in the last 24 hours, according to data from Benzinga Pro.
Image via Flickr/ Richard
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