Cat-themed Popcat Tumbles Over 8% — Dogecoin, Shiba Inu, Pepe Little Changed

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%.

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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