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 SOL/USD-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 SHIB/USD +0.15% $0.00001398 Dogecoin DOGE/USD -0.09% $0.1003 Pepe PEPE/USD -0.32% $0.000007705 Popcat (POP) -8.39 $0.6201

Meanwhile, the broader memecoin market was little changed. Ethereum ETH/USD-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 BTC/USD and Ethereum ETH/USD, 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.

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