Bitcoin Meme Coins Rally Up to 77%, Outpacing Major Cryptocurrencies
As bitcoin surges to all-time highs, some cryptocurrency traders on X are starting to use bitcoin-based meme coins as a beta bet, making the industry a trending topic for regular traders to follow. According to CoinGecko data, tokens including PUPS, DOG•GO•TO•THE•MOON (DOG), BILLION•DOLLAR•CAT (BDC), MEME, and others have risen up to 35% in the last day, outpacing gains in all tracked categories.
The value of smaller tokens, such as CYPHER•GENESIS (CYPHER), has increased by more than 77%. According to data, the market value of Runes tokens, the system that underpins these assets, has surpassed that of BRC-20, another protocol based on Bitcoin, in the last day.
Memecoins Emerge as Key Beta Assets for Ethereum and Solana Ecosystems
Following Republican Donald Trump’s election as president, which boosted mood and growth across the sector for his pro-crypto position, such actions were taken as Bitcoin gained more than 30% in the last 30 days. However, as of Monday, data indicates no increase in Runes protocol on-chain metrics. Prices usually lead to on-chain measures, which are based on social activity and tales.
Using linked tokens, beta bets are a means to increase exposure to a network, ecosystem, or asset. The emergence of meme coins as the preferred beta asset for several ecosystems, such as Ethereum or Solana, since early 2023 has increased their attractiveness to investors.
Low market volatility in more serious crypto sectors, such as layer-2s or storage, often sets the stage for interest in cryptocurrencies. Additionally, growing skepticism toward venture capital-backed tokens, which are increasingly viewed as expensive and poor investments for individual traders, contributes to this trend.
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