Original author: Weilin
The price of the Puppet Monkey token PUPS based on the BRC 20 protocol in the Bitcoin ecosystem has surged 1101% in the past week, reaching $44.56, while some other BRC 20 tokens, such as WZRD, W☮, ZBIT, $π, etc. have also experienced Significant price increases drove higher trading volumes.
PUPS is forming a new way of playing graphics coins, and the matrix related to the Puppet Monkey IP has also received widespread attention, which together has stimulated the BTC ecosystem. The prices of other graphic currency hybrid projects SHID and HONK also experienced significant surges. PUPS will also migrate to the Runes protocol, and these trends are seen as a prelude to the Bitcoin halving on April 20 and the launch of the Rune protocol.
PUPS surges astonishingly, rising more than 1101% in a single week
PUPS is a meme coin in the BTC ecosystem, and its symbol is a puppet monkey wearing a hat. According to CoinGecko data, at 9:00 on April 4, PUPS was quoted at US$3.71, and as of April 11, it was quoted at US$44.56, an increase of more than 1101%. The maximum supply of PUPS is 7.7 million, and its current market value has exceeded US$357 million, ranking third among BRC 20 tokens in market value. PUPS is directly chasing ORDI, which has a market capitalization of about $1.6 billion, while second-place SATS has a market capitalization of about $1 billion.
Since the image of Pups echoes Solana’s meme coin dogwifhat, Ansem, a well-known KOL in the Solana ecosystem, also called for it: “I just bought the wif of the Bitcoin brothers,” Ansem said on April 6.
Ansems tweet about PUPS also caught the attention of artist Beeple, who immortalized Ansem, Dogwifhat, and Pups in a digital painting."This is Ansems world and were all just living in it, Beeple tweeted.
PUPS was launched in March 2023, predating the official Bitcoin Puppets collection series and becoming the representative of the OG meme coin. Its airdrop of free castings to the OPIUM ordinal community quickly gained attention and was often ridiculed in the community. This airdrop is the first BRC-20 airdrop on Bitcoin, further solidifying PUPS’s position in the BTC Ordinals space.
At the same time, the latest hot meme project in the BRC-20 ecosystem is in a very active state. As of 2 p.m. on April 11, the top 5 BRC 20 projects on OKX in the past 24 hours according to trading volume are: PUPS (43.208 BTC), W☮ (17.9041 BTC), NODE (12.3807 BTC), cats (10.0028 BTC) ), wzrd(7.9443 BTC). In addition, ZBIT has also received a lot of attention.
Among them, WZRD is the token of the Bitcoin Wizard project, a Bitcoin Ordinal NFT project that celebrates the tenth anniversary of the original Bitcoin Wizard created by mavensbot. “Magic Internet Money,” created by mavensbot, is an iconic ad promoting Bitcoin. It was originally created by mavensbot on the evening of February 18, 2013, and quickly became the most popular ad on reddit.
Another W☮, with the theme of world peace, is not only popular in the Chinese-speaking circle, but also received a lot of attention from overseas users. ZBIT is the token of the NFT project BTC Machine. This project attempts to use Ordinals to build an MMORPG to represent digital assets and ensure immutability and ownership. Previously, the project announced that it would airdrop ZBIT tokens to Runestone holders. Other coin inscriptions in the ecosystem are also attracting more users, such as SHID, HONK, NODE, and AMB, and are receiving more orders.
Items represented by SHID
“Puppet Empire” graphic currency gameplay stimulates BTC ecosystem
At present, inscriptions and tokens related to puppet monkeys are very popular, forming a puppet empire. The latest trend is the emergence of a new model represented by PUPS in the inscription market, that is, the IP Matrix gameplay. The core of this gameplay is to use an Ordinals NFT as the basis and then launch a BRC 20 token. However, the launcher of this BRC 20 token is not necessarily the NFT project party, but is more likely to be the initiator of the community.
Related projects include Le Puppettes, Little Pups, Pixel Puppets, and more.
According to the Pups team, PUPS will be migrating from BRC-20 to the Runes protocol when the Bitcoin halving occurs later this month. A Pups spokesperson said: Moving to Runes, which is more decentralized than BRC-20, feels like the Bitcoin way.
Developed by Casey Rodarmor, who is also the man behind Ordinals, Runes allows fungible tokens like memecoins to run on the Bitcoin network. Runes will be coming to the Bitcoin network after the highly anticipated halving.
Memecoins have traditionally thrived on alternative blockchains like Solana due to their faster transaction speeds and lower fees. While Bitcoin, due to its slower speed and higher transaction costs, PUPS exists on Bitcoin through the BRC-20 standard, which is somewhat of an accident.
At present, what is interesting is that PUPS itself has been cross-chained to the Solana chain, and is also considered by some users to be a bridge connecting the Solana and BTC ecosystems.
