Cat-themed pop cat (POPCAT) has shaken off the decline in the meme coin space to emerge as one of the market’s biggest gainers on Tuesday.
What happened: Solana SOL/USD based coin gained 5.63% in the past 24 hours, becoming the second best performing cryptocurrency on the market.
The coin, which has a market capitalization of $1 billion, saw a 44% spike in trading volume in a 24-hour period, indicating strong demand.
POPCAT bucked the downtrend memecoin market with established players such as Dogecoin DOGE/USD and Shiba Inu DOGE/USD falling 4.74% and 2.69% respectively.
With a staggering 15,344% increase since the beginning of the year, POPCAT became the biggest gainer in the crypto market in 2024.
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POPCAT led the Solana meme coin craze this year. Other coins created on the network, such as Dogwifhat WIF/USD and Cat in a Dogs World (MEW), recorded gains of 1477% and 416%, respectively.
POPCAT’s rally comes amid a sideways market as Bitcoin BTC/USD and Ethereum ETH/USD struggle to make a decisive breakout.
Price Trend: At the time of writing, Bitcoin was trading at $66,962.86, down 0.51% in the past 24 hours, according to data from Benzinga Pro.
Image via Flickr.
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