Bitcoin meme coin pops up 1,056% for the week, days before Bitcoin's halving and concurrently with the launch of the Runes protocol. Puppies started the week at $22.50 before surging 44% on Tuesday. With a maximum supply of 7.7 million, PUPs exceeded 365 million dollars in market capitalization.
Pups (PUPS) is up more than 1,000% and is trading at $41.89, according to CoinGecko, the Ordinals text project launched a year ago has risen 119,813.7% since the beginning of the year.
Viral crypto trader Ansem said on Twitter that he “just bought the wife of the Bitcoin bros,” referring to the dogwhiphat meme coin.
According to the Pups team, the token launched on BRC-20 will switch to the Runes protocol when the Bitcoin halving happens later this month.
“Emigrate to [Runes]It feels way more decentralized than BRC-20, like Bitcoin,” a Pups spokesperson told Decrypt. “When the creator of the Ordinals builds the Runes and it is under his own protocol, this means that everyone is indexed. [Ordinals] By default, the runes are the tokens themselves.
This decentralization puts both ordinals (NFTs) and tokens (Runes) under one roof, they continued.
Ansem's tweets about Pups got the attention of digital artist Beeple, who immortalized Ansem, Dogwhip, and Pups in a digital painting.
“This is Ansem's world, and we all live in it,” Beeple tweeted.
Meanwhile, Dogwifhat (WIF) is at $3.67, up 1.5% on Wednesday. However, the popular Solana Mem Coin was down 0.1% on the week, along with the Solana Mem Coin market.
Other dog-themed cryptocurrencies are also struggling this week. Ethereum-based meme coin Floki is trading at $0.00019, down 1.2% for the week, while Solana meme coin Bonk is trading at $0.00002, down 0.4% for the week.
The Pups Token text price is currently $46 on UniSat. When asked about the sudden surge in demand for Pups Token, a spokesperson said it's all about having a good meme.
“Being an unofficial community token tied to meme, there was no binding, and no meme coin has gained attention from memetics on bitcoin,” they said. “I think the MM Coin Supercycle came along at an absolutely innovative time. And Bitcoin is the biggest chain.
Pups is just one entry in a growing list of projects ahead of next week's joint Bitcoin and Runes stakes. Amid the outcry, some members of the community are pushing for a more rational perspective on the rising numbers.
“Remember, none of this money is real until you sell it,” he warned.
Edited by Ryan Ozawa.
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