Bitcoin coin Puppies is up 1,056% for the week, days before the Bitcoin halved and the simultaneous launch of the Runes protocol. Puppies started the week at $22.50 before jumping 44% on Tuesday. With a max supply of 7.7 million, Pups surpassed $365 million in market capitalization.
While Pups (PUPS) is up over 1,000% and trading at $41.89, according to CoinGecko, the Ordinals listing project launched a year ago is up 119,813.7% since the beginning of the year.
“I just bought the wife of Bitcoin Bros,” a viral crypto trader Ansem said on Twitter, referring to the Dogwifhat meme piece.
According to the Pups team, the token that started on BRC-20 will be converted to the Runes protocol later this month when Bitcoin halves.
“Migrating to (Runes), which is much more decentralized than BRC-20, is similar to the Bitcoin way,” a Pups spokesperson said. Decrypt. “As the creator of Ordinals builds Runes and is under the protocol itself, this means that everyone who indexes (Ordinals) by default indexes the rune tokens themselves.”
This places a decentralized state for ordinals (NFTs) and tokens (Runes) under one roof, they continued.
Ansem's tweets surrounding Pups even caught the attention of digital artist Beeple, who immortalized Ansem, Dogwifhat and Pups in a digital painting.
“This is Ansem’s world, and we all live in it,” Beeple wrote on Twitter.
For his part, Dogwifhat (Wireless) is $3.67, up 1.5% on Wednesday. However, the popular Solana coin is down 0.1% for the week, along with much of the Solana coin market.
Other dog-themed cryptocurrencies are also struggling this week. Meme coin based on Ethereum Floki is trading at $0.00019, down 1.2% for the week, while meme coin Solana Bonk is priced at $0.00002, down 0.4% for the week.
The floor price for a Pups token listing is currently $46 on UniSat. Asked about the sudden surge of interest in the Pups token, the spokesperson said it was all about owning a good meme.
“Given that it is an unofficial community token tied to the meme, there was nothing forced, and there is no coin on Bitcoin that has ever attracted attention with the memetics,” they said. “I think it came at the perfect time of innovation, of the coin supercycle. and Bitcoin being the largest chain.
PUPs are just one entry in a growing registry of projects gaining popularity ahead of the joint Bitcoin and Runes milestones taking place next week. Amid all the hype, some in the community are pushing to take a rational perspective on all these growing numbers.
“Remember, none of this money is real until you sell it,” warned crypto enthusiast and pseudonymous podcaster Deeze.
Edited by Ryan Ozawa.
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