Cat-themed memecoin pop cat (POPCAT) was the outlier on Tuesday, trading in the green amid a broader memecoin crisis precipitated by fears of war in the Middle East.
What happened: He solarium SUN/USDThe cryptocurrency-based coin is up 0.28% at the time of writing, becoming the only cryptocurrency among the 10 largest meme coins by market capitalization to post gains.
POPCAT's trading volume increased 45% to $209.47 million in 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, with a staggering 12,383% surge so far this year.
See also: Pay taxes with Bitcoin? Ohio Senator Proposes Crypto Tax Bill, But There's a Problem
The gains were in stark contrast to the bloodbath seen elsewhere, with heavyweights like Dogecoin DOGE/USD and shiba inu SHIB/USD losing up to 7% of its value. The total market capitalization of meme coins contracted by 5% in the last 24 hours.
The drop followed escalating tensions in the Middle East after Iran launched a barrage of missiles at Israel, causing investors to dump risk assets.
A market reference bitcoin BTC/USD was down 2.9% at the time of writing, while Ethereum fell more than 5% in the last 24 hours.
price action: At the time of writing, POPCAT was trading at $1.01, up 0.28% in the last 24 hours, according to Benzinga Pro data.
Image via Flickr/Richard
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