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 (CRYPTO: SOL)-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 (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) 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 (CRYPTO: BTC) 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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