Memecoins such as PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT are gaining traction among traders as speculative investments amid Bitcoin's recent surge to new peaks. The newly established Runes protocol, which allows the creation of fungible tokens on Bitcoin, has surpassed BRC-20 in market capitalization. These tokens typically thrive during periods of low volatility in other crypto markets. Bitcoin-based memecoins have recorded significant growth, with some rising up to 77%, attracting the attention of traders looking for exposure to Bitcoin's ecosystem. The increase in market capitalization of Runes tokens coincides with a more than 30% rise in Bitcoin's value over the past month, linked to positive sentiment from the recent U.S. presidential election. The appeal of memecoins seems to stem from their performance compared to traditional tokens that are seen as overvalued, positioning them as attractive bets for investors navigating the crypto landscape.

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