Bitcoin-based meme coins are seeing renewed interest amid the asset’s record-setting climb, lifting the price of various Runes tokens launched alongside the protocol’s debut this year. 

Over the past week, the price of DOG•GO•TO•THE•MOON (DOG) has increased 98%, rising to $0.0078 Thursday, according to Magic Eden. With a market capitalization of around $767 million, the asset is among the most widely adopted Runes, with over 95,000 different holders.

Developed by the creator of Ordinals, Casey Rodarmor, Runes aims to create an efficient standard for fungible tokens on crypto’s oldest network. Released alongside Bitcoin’s so-called halving in April, the cross-chain NFT marketplace Magic Eden was an early adopter.

According to Magic Eden co-founder and COO Zhuoxun Yin, users likely see Runes as an additional way

Go to Source to See Full Article
Author: André Beganski