The Bitcoin Runes protocol, designed to enable the creation of fungible tokens on the Bitcoin blockchain, has experienced a significant decline in activity and fees just one month after its launch. Despite initial hype, the protocol has not met expectations, with many users expressing disappointment. However, some market participants remain optimistic about the utility of Runes and their potential future applications. Notably, the market caps of tokens like Dog and Runecoin have seen some positive movement, with Dog increasing from $0.0022 to $0.0031 and Runecoin from $0.06 to $0.1. The overall market cap of fungible tokens on the Bitcoin blockchain remains below $1 billion, while Bitcoin's market cap stands at $1.3 trillion. There are also reports of ATHs incoming and celebrations of important milestones as some entities onboard.