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Bitcoin Meme Coin PUPS Fuelled by Hype Ahead of Runes Release

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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

The hype surrounding the upcoming Runes protocol saw Bitcoin meme coin PUPS jump some 50% in the past 24 hours as traders look to bet on Bitcoin-adjacent tokens and networks ahead of the halving.as of Asian afternoon hours with a $516 million market capitalization, making it the third-largest Bitcoin-based token behind ordi and sats .

The PUPS collection is currently offered as an Ordinals token but intends to shift to the upcoming Runes protocol after the halving. Traders on social media platform X areThe upcoming Runes protocol is expected to go live after Bitcoin's halving. It will take the Ordinals protocol a step ahead by making transactions even more cheaper and faster – and traders say it’s

Runes takes this concept further by utilizing a UTXO protocol to generate transactions. This allows tokens to create, name, and transfer digital commodities only using the Bitcoin network.

 

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