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Popcat, the cryptocurrency market’s biggest gainer this year, plunged steeply Thursday, even as the broader memecoin market remained flat.
What happened: The cat-themed cryptocurrency tumbled more than 8% in the last 24 hours, marking a sharp reversal from the previous day's rally.
The Solana (CRYPTO: SOL)-based memecoin's trading volume jumped 12% in the last 24 hours to $119 million.
Despite the Thursday fall, Popcat has increased 5.45% in the last week, becoming the market’s fifth-best-performing cryptocurrency in this period.
Year-to-date, the memecoin, inspired by the viral internet meme of a cat named Oatmeal, has exploded a mammoth 7519%.
| Cryptocurrency | Gains +/- | Price (Recorded at 12:45 a.m. EDT) |
| Shiba Inu (CRYPTO: SHIB) | +0.15% | $0.00001398 |
| Dogecoin (CRYPTO: DOGE) | -0.09% | $0.1003 |
| Pepe (CRYPTO: PEPE) | -0.32% | $0.000007705 |
| Popcat (POP) | -8.39 | $0.6201 |
Meanwhile, the broader memecoin market was little changed. Ethereum (CRYPTO: ETH)-based heavyweights, Shiba Inu, Dogecoin, and Pepe remained around the flatline.
See Also: Donald Trump’s Pro-Bitcoin Stance Influenced Ethereum ETF Approval, Analyst Posits
Why It Matters: The cryptocurrency market remained choppy Thursday as gains made earlier in the day by blue-chip currencies, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), were quickly reversed by evening.
Early morning, former President Donald Trump attracted eyeballs when he teased a plan to make the U.S. the "crypto capital of the planet." However, no concrete development followed this announcement.
Image via Pexels
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