Bitcoin memecoin paps rose 1,056% for the week, days ahead of the launch of the Rune protocol, which coincides with Bitcoin's halving. Paps started this week at $22.50 and soared 44% on Tuesday. With a maximum supply of 7.7 million units, Papus' market capitalization exceeded $365 million.
According to CoinGecko, PUPS is up over 1,000% to trade at $41.89, while Ordinals Inscription Project, which was launched a year ago, is up 119,813.7% since the beginning of the year.
“I just bought my Bitcoin buddy’s wife,” says a viral cryptocurrency trader anthem mentioned the Dogwifhat meme coin on Twitter.
According to the Pups team, the tokens launched at BRC-20 will be converted to the Runes protocol later this month when the Bitcoin halving occurs.
“Transition to [Runes]It’s much more decentralized than BRC-20 and feels like the Bitcoin way,” said a Paps spokesperson. Decryption. “The fact that the creator of Ordinals builds his Runes and it is under the protocol itself means that everyone who creates an index does it. [Ordinals] By default it indexes the rune token itself. ”
This, they continued, brings the decentralized state of orders (NFTs) and tokens (runes) under one roof.
Anthem's tweet about the puppies caught the attention of digital artist Beeple, who immortalized Anthem, Dogwifat, and the puppies in a digital painting.
“This is Anthem's world, and we're all just living in it.” Beeple I have written On Twitter.
Meanwhile, Dogwifat (WIF) rose 1.5% on Wednesday to $3.67. However, the popular Solana meme coin, along with the majority of the Solana meme coin market, fell 0.1% for the week.
Other dog-themed cryptocurrencies have also struggled this week. Ethereum-based meme coin Floki is down 1.2% for the week at $0.00019, while Solana meme coin Bonk's price is down 0.4% for the week at $0.00002.
The lowest price for Pups tokens on UniSat is currently $46. When asked about the sudden surge in interest in the Pups token, a spokesperson said it's all about owning a good meme.
“As it is an unofficial community token associated with memes, there is nothing forced about it, and meme coins that gained traction with memes do not exist in Bitcoin,” they said. “I think we are at the perfect time for innovation, the memecoin supercycle, and Bitcoin is the biggest chain.”
Pups is just one entry in the ledger of projects surging in popularity ahead of a joint Bitcoin and Loon milestone scheduled for next week. Amid the hype, some in the community are calling for a rational perspective on all the rising numbers.
“Remember, this money is not real unless you sell it,” warned Dees, a pseudonymous crypto enthusiast and podcaster.
Edited by Ryan Ozawa.
