Bitcoin Meme Coin Pups Soars by 1,056%, Ready to Unleash Revolutionary Runes Protocol

The Bitcoin meme coin, Pups, has seen a surge of 1,056% in the past week, ahead of the Bitcoin halving and the launch of the Runes protocol. Beginning at $22.50, Pups experienced a surge of 44% on Tuesday and has since surpassed $365 million in market capitalization.

Bitcoin Meme Coin Pups Roars to 1,056% Gain, Poised to Unveil Revolutionary Runes Protocol

In the lead-up to the highly anticipated Bitcoin halving and the concurrent launch of the groundbreaking Runes protocol, the Bitcoin meme coin Pups has unleashed an extraordinary surge, skyrocketing by an astonishing 1,056% for the week.

Pups, the first memecoin on the Bitcoin blockchain, ignited the week at a modest $22.50 before embarking on an unparalleled upward trajectory. On Tuesday, it soared by an impressive 44%, propelling it to a remarkable $41.89, according to CoinGecko. With a limited max supply of 7.7 million, Pups has amassed an astounding $365 million in market capitalization.

However, the Pups phenomenon is merely a ripple in the vast ocean of blockchain innovation currently engulfing the cryptosphere. Ordinals, the revolutionary inscription protocol that debuted a year ago, has witnessed an even more staggering ascent, with a staggering 119,813.7% gain since the commencement of the calendar year.

Pups, created as a BRC-20 airdrop on Bitcoin, is poised to migrate to the Runes protocol, a transformative platform that seamlessly integrates Ordinals inscripts (NFTs) and tokens under a single decentralized umbrella. This migration will be accompanied by a pre-rune minting and burning mechanism, with 77% of BRC20 Pups converted into Rune Puppets and 23% retained as Ordinal Pups.

"Migrating to [Runes], which is considerably more decentralized than BRC-20, feels just like the Bitcoin method," a Pups spokesperson asserted to Decrypt. "Because the creator of Ordinals builds Runes and is under the protocol alone, it means that anybody indexing [Ordinals] is by default indexing runes tokens on their own."

The Pups surge has even captured the attention of renowned digital artist Beeple, who immortalized the phenomenon in a captivating digital portrait featuring crypto trader Ansem, the Dogwifhat meme coin, and Pups itself. "It is Ansem's planet, and we're all simply living in it," Beeple proclaimed on Twitter.

While Pups reigns supreme, its canine counterpart, Dogwifhat (WIF), has also enjoyed a notable uptick, rising by 1.5% on Wednesday to $3.67. However, the broader Solana meme coin market has experienced a setback, with both Floki and Bonk declining slightly for the week.

The resurgence of pet-themed cryptocurrencies, particularly Pups, can be attributed to the intrinsic value of a compelling meme, according to the Pups spokesperson. "Being the unofficial community token tied to the meme, there was nothing at all forced about it, and there's no meme coin on Bitcoin that ever gained focus with memetics," they emphasized. "I feel it came at the perfect time of innovation, meme coin supercycle, and Bitcoin remaining the most relevant chain."

Pups represents just one example of the burgeoning initiatives gaining traction ahead of the momentous Bitcoin halving and Runes launch next week. Amidst the excitement, market observers urge caution, reminding investors that realized gains are only tangible upon selling.

"Recall, none of this money is real till you sell," cautioned pseudonymous crypto enthusiast and podcaster DeeZe.

As the crypto landscape continues to evolve at an unprecedented pace, Pups and other innovative projects stand poised to define the next era of blockchain technology.