The value of Pups has risen 1,056% in a week to $41.89, driven by excitement over the upcoming Bitcoin halving and the launch of the Runes protocol.
Bitcoin meme coin Pups is up 1,056% this week, just days before the Bitcoin halving and the simultaneous launch of the Runes protocol. The price started the week at $22.50 and surged 44% on Tuesday. Pups has a maximum supply of 7.7 million and a market cap of over $365 million.
Pups (PUPS) is up more than 1,000% and is trading at $41.89, while the Ordinals Inscription project, which launched a year ago, is up 119,813.7% since the beginning of the year, according to .
According to the Pups team, BRC-20-based tokens will be converted to the Runes protocol when Bitcoin halving occurs later this month.
“Migration to [Runes], which is much more decentralized than BRC-20, feels like the Bitcoin way,” a Pups spokesperson told Decrypt. “Since the creators of Ordinals built Runes and follow the protocol itself, this means that everyone who indexes [Ordinals] will by default index the Runes token itself.”
This, they continued, brings the decentralized status of ordinals (NFTs) and tokens (Runes) under the same roof.
Ansem’s tweet about 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 its part, Dogwifhat ( WIF ) is trading at $3.67, up 1.5% on Wednesday. However, the popular Solana Meme Token is down 0.1% this week, as is the majority of the Solana Meme Token market.
Other dog-themed cryptocurrencies have also struggled this week. Ethereum-based meme coin Floki is trading at $0.00019, down 1.2% this week, while Solana meme coin Bonk is trading at $0.00002, down 0.4% this week.
The current reserve price for a Pups token inscription on UniSat is $46. When asked about the sudden surge in interest in Pups tokens, the spokesperson said it’s all about having a good meme.
“As an unofficial community token related to a meme, there is nothing forced about it, and there are no meme tokens on Bitcoin that have gained attention because of memes,” they said. “I think it comes at the perfect time for the innovation, memecoin super cycle. Bitcoin is the largest chain.”
Pups is just one of a number of projects gaining popularity ahead of next week’s joint Bitcoin and Rune milestone. Amid the hype, some in the community are desperate for some perspective on all the rising numbers.
“Remember, the money isn’t real until you sell it,”
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