Memecoins Gain Popularity as Bitcoin Rises

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Bitcoin (BTC) based memecoins are attracting significant attention in the cryptocurrency market. With Bitcoin reaching record highs, memecoins such as PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT have generated substantial profits in a short time. In the last 24 hours, these memecoins have increased in value by up to 35%. Smaller memecoins like CYPHER•GENESIS have surged by 77%. This rise in blockchain-based memecoins highlights their growth within the Bitcoin ecosystem. Data shows that the price increase of the leading cryptocurrency is directing attention towards such altcoins.

Runes Outperforms BRC-20

The Runes protocol, which operates on Bitcoin’s UTXO model, facilitates the creation and management of NFTs. Developed in 2024, Runes offers more effective usage as it is compatible with Bitcoin’s network structure. Additionally, it reduces network congestion experienced in other token standards.

Recent data indicates that Runes’ market value has surpassed that of BRC-20. However, there has yet to be significant activity in on-chain metrics. Experts emphasize that price increases often precede social activities.

Memecoins Tend to Shine During Low Volatility Periods

Memecoins typically become popular during low volatility phases in the market. They are attracting attention as an alternative investment area supporting Bitcoin’s rise. The appeal of memecoins stems from investors’ pursuit of higher returns. These altcoins are also gaining traction in ecosystems like Ethereum (ETH) and Solana (SOL).

Interest in memecoins is often based more on short-term profits than long-term investment plans. However, these altcoins contribute to increased confidence in larger ecosystems.

As Bitcoin continues to rise, memecoins remain on the radar of investors. These altcoins provide opportunities for both speculative profit seekers and those looking to support the Bitcoin ecosystem.

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