CandleFocus

Missed BTC Rally to $93K? Bitcoin Memecoins Could Be Next to Watch

Author: Content Editor
Memecoins such as PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT are gaining popularity as beta bets for Bitcoin's growth. The Runes protocol, which allows the creation of fungible tokens on Bitcoin, has surpassed BRC-20 in market capitalization. Memecoins serve as speculative assets during periods of low volatility in other crypto sectors. Bitcoin-based memecoins are becoming popular among traders as a way to bet on Bitcoin's surge to new highs. Tokens like PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT have seen significant gains in the past 24 hours. The market capitalization of Runes tokens has exceeded BRC-20. The increase in memecoin interest coincides with Bitcoin's recent rise due to support from Donald Trump. The Runes protocol utilizes Bitcoin's UTXO model to create and manage fungible tokens. This reduces network congestion caused by other token standards. While there has been no uptick in Runes protocol metrics, beta bets are gaining popularity to gain exposure to networks and assets. Memecoins have emerged as preferred beta assets, especially during periods of low market volatility and negative sentiment around venture capital-backed tokens. This trend is not exclusive to Bitcoin, as meme coins on the Solana network have also seen growth.

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