Leonidas Leonidas, the developer behind Ordinals and founder of the Runestone project, has made a thought-provoking statement regarding Satoshi Nakamoto, the anonymous creator of Bitcoin. According to Leonidas, if Satoshi is still alive, he would likely be aware of the current meme coin frenzy. This notion is fascinating to consider, as it highlights the potential impact of Satoshi's involvement in the meme coin trend on his chain.

The Runestone project, which includes the Runes Protocol, a new token standard that allows the issuance of fungible tokens on the Bitcoin blockchain, was launched after Bitcoin's halving. Developed by Casey Rodarmor, the developer behind the much-discussed Bitcoin Ordinals, the protocol operates as an additional layer on top of the main chain and within Bitcoin's existing infrastructure.

Following the launch of Runes Protocol, Bitcoin saw a significant increase in fees. On April 20, it generated 24 times more fees than Ethereum. However, this spike in fees was short-lived, and Bitcoin fees quickly returned to normal. After the initial excitement faded, the protocol is once again in the spotlight due to the popularity of meme coins.

The Bitcoin-based DOG•GO•TO•THE•MOON (DOG) meme coin has seen a nearly 24% increase in the past 24 hours and is now nearing the top 100 cryptocurrencies by market cap, with its valuation almost reaching $800 million.