The Pups meme coin is currently seeing a surge in popularity as excitement grows for the upcoming release of the Runes protocol.

According to CoinMarketCap, the PUPS meme coin has increased by 55% in the past 24 hours, reaching its peak at $174 and currently at $72. Its market capitalization has also risen by 48.67% to approximately $563.75 million. Trading activity has significantly increased, with a 387.38% rise in volume over the past day to $31.37 million.

The current hype surrounding PUPS is largely due to the upcoming launch of the Runes protocol, which introduces a new UTXO-based system for creating and managing tokens on the Bitcoin blockchain. The transition of the BRC-20 token to Runes later this month, coinciding with the Bitcoin halving, has generated interest.

The simplified approach of Runes, which reduces blockchain bloat and user interaction, is an appealing alternative to the BRC-20 token. This could lead to wider adoption and innovation within the Bitcoin community. The recent surge in the value of PUPS, which saw a 1,056% increase last week, is likely influenced by the excitement surrounding the Runes protocol.

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