Bitcoin Surges Past $71k as Memecoin Ecosystem Booms
Bitcoin's price has surged past $71,000, hitting its highest point since the Bitcoin Halving event in April. This increase is occurring alongside a notable rise in Bitcoin-based memecoins like ORDI and DOG.
BTC reached a peak of $71,172 on Wednesday, according to CoinMarketCap data. It's currently trading at $70,839 with a 2.21% gain over the past 24 hours and a 3% increase in the last seven days.
The rise in Bitcoin has also led to significant gains for some of its fungible tokens on the blockchain. ORDI, which was minted using the BRC-20 standard, has surged nearly 17% to just below $57.5, its highest price since early April.
Other tokens like PUPS and WZRD have also experienced substantial gains, with PUPS rising 121% and WZRD up 136%. Both are undergoing a planned launch on the Runes protocol.