PUPS, a memecoin project running on the Bitcoin blockchain, has surged in value, with its price soaring by 1,075% over the past week. According to CoinGecko data, PUPS is presently trading at $45.40, just shy of its recent all-time peak of $47.44, which occurred during the early Asian market session.
Sales of PUPS NFT Soar with 6,948% Gain
BRC-20 NFT collection is also experiencing a surge. Sales have seen an extraordinary 6,948% increase over the past week.
In addition, recent data ranks PUPS' BRC-20 NFTs second in sales volume over the past week, generating $18.4 million from 3,232 transactions involving 1,161 buyers. This outperforms NodeMonkes, which saw $11.72 million in sales with only a 108.61% increase.
UniSat has disclosed an impressive floor price of 61,799 sats for PUPS NFTs, approximately equivalent to 0.46 BTC or $32,655 at the current time.
Remarkably, PUPS ranks just behind the "Uncategorized Ordinals" group, which achieved a remarkable $48.15 million in sales during the same period. The term "Uncategorized Ordinals" refers to miscellaneous digital assets on the Bitcoin blockchain that do not belong to recognized collections.
The success of PUPS reflects a broader trend. NFT sales volume on the Bitcoin blockchain has surpassed Ethereum and Solana over the past seven days.
This is noteworthy given that Ethereum and Solana are typically associated with NFTs.
According to data from CryptoSlam, Ethereum's seven-day NFT sales volume stands at $9.38 million, while Solana's stands at $3.94 million. In contrast, Bitcoin has amassed an impressive $20.97 million.
The outstanding performance within the PUPS ecosystem aligns with the much-anticipated introduction of Runes. Casey Rodarmor, a Bitcoin developer renowned for creating Ordinals, has devised Runes as a fresh fungible token standard for the Bitcoin blockchain. Runes are set to make their debut on Bitcoin's mainnet shortly after the forthcoming Bitcoin halving event.