30s Summary
Meme-themed cryptocurrencies, such as PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT, are growing in popularity, particularly among investors betting on Bitcoin’s success. These digital coins have seen a remarkable growth of around 35% in the last day. The Runes protocol, providing the framework for these tokens, has surpassed the BRC-20 in total market value. Aside from Bitcoin, other platforms like Ethereum and Solana have seen growth in meme-coins, serving as a fun way for people to invest in the future of these platforms.
Full Article
Novel meme-themed cryptocurrencies like PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT are becoming trendy choices for people betting on Bitcoin’s success. They’re seen as an exciting way to invest in Bitcoin’s growth. Interestingly, a platform called Runes protocol, which allows creation of these kinds of digital tokens directly on Bitcoin using its UTXO model, has jumped ahead of BRC-20 in terms of total market value. Usually, meme-themed cryptocurrencies serve as a speculative investment when there’s not much fluctuation in other areas of the crypto market.
In plain speak, meme-themed cryptocurrencies are getting more popular with some crypto traders on X as Bitcoin is doing really well, reaching all-time highs. Some of these coins, like PUPS, DOG•GO•TO•THE•MOON (DOG), BILLION•DOLLAR•CAT (BDC), MEME, have seen a growth of about 35% in the last day, leading the pack in terms of growth. Smaller tokens, like CYPHER•GENESIS (CYPHER), have risen even more – over 77%.
Runes tokens, the backbone of these meme-coins, have tipped BRC-20 (another Bitcoin-based protocol) in terms of overall market value over the last day. Runes were created in 2024 to make it easy for people to create and manage digital tokens on Bitcoin. Like Bitcoin itself, Runes allow people to create fungible tokens, which are digital assets that can be swapped for one another. This means Runes fit in well with Bitcoin’s native structure and may help reduce network congestion caused by other kinds of tokens, like BRC-20.
What’s interesting is that meme-coins aren’t just a Bitcoin thing. Other platforms like Ethereum or Solana have seen a rise in meme-coins especially when there’s not much action in more serious crypto sectors. These meme-coins are a fun way for people to bet on the future growth of these platforms. For example, many Solana-based meme-coins saw a jump from December 2023 to March as the network’s SOL tokens started to do really well. This added to Solana’s growth and appeal and also helped drive up the price of SOL tokens.