Recently Bitcoin set a new all-time high above $93,000, leaving investors anticipating another jump to $100,000. As BTC continues to rise, niche tokens called memecoins have gained increased attention.
Meme coins issued on the Bitcoin blockchain, including PUPS, DOG•GO•TO•THE•MOON and BILLION•DOLLAR•CAT, have particularly attracted the attention of traders as a high-risk, high-reward investment option.
According to CoinGecko, some of these tokens have seen impressive gains over the past 24 hours, with smaller tokens like CYPHER•GENESIS (CYPHER) adding 50% in value.
CYPHER•GENESIS (Runes) Monthly Chart. Source: CoinGecko
A platform for creating fungible tokens directly on the Bitcoin blockchain, Runes, has overtaken BRC-20 tokens in market cap. Launched in early 2024, the Runes protocol uses an unspent transaction output model Bitcoin ( UTXO ), which allows the creation of fungible tokens without overloading the network.
Unlike BRC-20, Runes is more closely tied to Bitcoin's native transaction structure, potentially reducing hoarding UTXO . With Bitcoin reaching new peaks, traders are turning to memecoins to gain access to the first cryptocurrency's expanded ecosystem without directly investing in BTC.
DOG•GO•TO•THE•MOON Monthly Chart. Source: CoinGecko
This trend follows previous memecoin surges on other networks, such as Ethereum и Solana , following the growth of the network's native tokens.
