The Bitcoin Runes sector has performed strongly in recent days, especially with the leading $DOG breaking new highs, and driven by the strong gains of BRC-20 tokens such as $Ordi and $Sats (each rising by more than 16% in a single day) and 11%).
Magic Eden data shows that in the past 24 hours, most of the top ten runes by market value have experienced double-digit increases. The following summary highlights the runes:
1) DOG•GO•TO•THE•MOON ($DOG):
It is a token airdropped by Runestone, which has previously soared past 0.09 BTC. Runestone founder Leonidas has also continued to push and pull. The current market value has exceeded US$800 million, rising by more than 8% in the past 24 hours, and hit 0.0085 earlier today. New highs for the dollar.
2) RSIC•GENESIS•RUNE ($RSIC):
It was listed on OKX under the code name Runecoin and was the first rune to be listed on a Tier 1 exchange. Its current market value exceeded US$261 million, rising nearly 13% in the past 24 hours.
3) PUPS•WORLD•PEACE:
It is a rune of the Puppet family that is very popular in the community. The family's BRC20 token $PUPS is also issued on the Solana chain, so it is one of the most popular Bitcoin ecological projects in the overseas community. Since May 9, assets within the family can be burned and exchanged for rune tokens (for details, please refer to this article ). The current market value has exceeded US$150 million, down 3.45% in the past 24 hours.
According to the GeniiData website, Rune's total market value has reached US$1.71 billion, up 1.58% in the past 24 hours, which is still 33.6% behind BRC-20's market value of US$2.286 billion. In addition, the market value of Rune Dragon Head $DOG is US$800 million, which is about 26% away from the US$1.01 billion of Inscription Dragon Head $Ordi.
Rune Potential Catalyst
Listed on mainstream exchanges
In addition to benefiting from the rise of leading $DOG and BRC-20 tokens, the rune sector’s continued outstanding performance may also benefit from the expectation of listing on mainstream exchanges. Leonidas has continuously tweeted to emphasize the potential impact of listing centralized exchanges on the market value of $DOG. He said:
Although $DOG currently has a market value of US$740 million, many people still don't know how to buy it. I'm really worried about what will happen once we list on a major centralized exchange and liquidity increases significantly.
I have never seen any meme coin rise this violently before.
Today he also posted a message shouting : "It is imminent that $DOG will be listed on Tier 1 CEX. Its market value will soon reach one billion US dollars, and it is only one step away from entering the CMC homepage. Let us break the boundaries and go to the moon."
Stick to Runes meme currency culture: decentralization and fair distribution
On the other hand, Leonidas also tweeted to praise the culture of rune meme coins, saying:
I will work every day to stop the pre-sale and pre-mine culture from invading Bitcoin and damaging the Runes memecoin ecosystem. Celebrities and venture capital investors are free to operate meme coins on other blockchains, but they will not be welcome on Bitcoin. Open minting of Runes and free and fair airdrops are viable alternatives to issuing meme coins in a decentralized manner that avoids insider manipulation of distribution. We don’t need to tolerate corporate meme coins on Bitcoin.
He added that meme coins are the most honest version of cryptocurrencies, they acknowledge that most of us are here to make money and have fun, and we cannot let organized capital run the same KOL + market making on meme coins. Business + internal pre-sale playbook and ruined us, it is an asset in cryptocurrency that needs to remain pure and decentralized.
This comment may have attracted the attention of some investors after the Meme coin $NORMIE on the Base chain recently plummeted by more than 99% in just one minute, and the celebrity token $Jenner rose and fell sharply due to the influence of a single influential figure. favor.
In addition, analyst Ignas has expressed optimism about Runes' prospects in the near future and pointed out the following potential catalysts:
- Online centralized exchange: Previously $RSIC ( @rune_coin ) has been listed on OKX. Other potential exchanges include Binance and Kraken, both of which released Runes reports in May, showing strong interest in the sector.
- Bitcoin soft fork brings improvements to BTCFi development
- Stablecoins (USDC, USDT, etc.) are issued on the Bitcoin network using Runes, and this demand will increase with the development of BTCFi
- As time passes, the market digests this sell the news incident of Rune.
