The memecoin boom continues, the best example of which is the hype for Dogecoin Ordinals, i.e. Runestone. The airdrop of NFT tokens inspired by Bitcoin Ordinals has received huge interest from the community. Are DRC-20 tokens a new trend on the digital assets and memecoin market?
Dogecoin Ordinals, a strong inspiration from NFTs on the BTC blockchain
The Bitcoin Ordinals protocol has become extremely polarizing for the Bitcoin community. Its opponents are wondering how to cut this Gordian knot that wastes the limited power of the Bitcoin network. On the other hand, supporters of Bitcoin Ordinals admit that this is a natural stage in the evolution of bitcoin. This idea was quickly taken over by Dogecoin users, who decided to create their own Dogecoin Ordinals. On Tuesday, April 2, the airdrop of 30,272 NFTs titled “Doge Runestone” ended.
Currently, Doge Runestons retail for 185 DOG, or approximately $32. Their volume within 24 hours was just over USD 2,000. Although this is not a surprisingly high result, the Dogecoin community very positively welcomed the news about the innovative idea to expand the usability of the Dogecoin network. For this reason, further airdrops of DRC-20 dogs are also possible.
NFT tokens on memecoins – cryptocurrency inception?
The popularity of memecoins during the current bull market is quite impressive. Some people even claim that memecoins may become one of the key factors in the adoption of cryptocurrencies. The creation of Dogecoin Ordinals is another branch of memecoins and an evolution of this cryptocurrency trend. However, it is worth clearly mentioning here that memecoins are characterized by extremely high instability. Their course can go up quickly and drop even faster.
Despite this, the memecoin market is currently very popular – both on the Ethereum and Solana blockchains. Dogecoin Ordinals fits perfectly into this trend and confirms that it is the community that sets new directions for Dogecoin's development. How long will the memecoin craze last? It's hard to say, but at the moment there is only an upward trend.
