Popcat Memecoin Defies Market Trends with 0.28% Gain Amid Memecoin Sector Decline

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On October 2, 2024, cat-themed memecoin Popcat (POPCAT) stood out in a day marked by a significant downturn in the memecoin sector. This downturn was driven by rising tensions in the Middle East. As a result, Popcat was up by 0.28%, making it the only coin among the top 10 meme coins by market capitalization to record gains.

In the last 24 hours, POPCAT’s trading volume surged by 45%, reaching $209.47 million. This performance positioned it among the top gainers in the cryptocurrency market. So far in 2024, the token has skyrocketed an incredible 12,383%.

In contrast, major players like Dogecoin (DOGE) and Shiba Inu (SHIB) dropped by as much as 7%. Overall, the meme coin market capitalization decreased by 5%. Investors reacted to increased tensions after Iran launched a missile attack on Israel, prompting them to sell off riskier assets.

At the time of this report, POPCAT was trading at $1.01, reflecting a 0.28% increase in the last 24 hours, according to data from Benzinga Pro.

Market analyst Arthur Hayes pointed out that "money printing" is a key factor in Bitcoin's status as the "best performing asset" in history.

These market updates and insights come from Benzinga APIs. We cover important developments in cryptocurrency, market movements, and trading ideas related to Dogecoin, meme coins, Popcat, and Shiba Inu. Trade confidently with access to analyst ratings, free reports, and breaking news that impacts the stocks you care about.