Key takeaways
BTC has recovered from its recent poor performance and is now targeting the $68k level.
The Poodlana presale has surpassed $3m after raising more than $500k in four days.
BTC approaches $68k
The cryptocurrency market has had a rollercoaster week. Bitcoin underperformed earlier this week, hitting the $63k level due to the Mt.Gox BTC and BCH dump in the market.
However, the market began to recover later on and Bitcoin is now approaching the $68k level. At press time, the price of Bitcoin stands at $67,538, up by 1% in the last seven days. If the bullish momentum is built upon, BTC could be heading towards the $69k resistance level in the coming days.
What is Poodlana?
The cryptocurrency market is slowly recovering following its recent bearish run. The bearish run didn’t stop investors from pushing funds into new and promising projects. One of the projects in this category is Poodlana.
Poodlana is a Solana-based meme coin focused on introducing the glamor of high fashion to the crypto world. The plan is to make Poodlana the leading dog-themed meme coin on the planet, with the developers leveraging the ethos of community-driven growth to reach its goal.
The popularity of the Poodlana dog breed in Japan, Korea, and China, and their love for meme coins would be crucial in building a strong community for this project. Poodlana wants to become a bigger dog-themed meme coin, surpassing the two giants, Shiba Inu and Dogecoin.
Poodlana’s presale hits $3m
The Poodlana presale began eleven days ago and will last for 30 days. The project has raised more than $3 million in the last elevel days as more investors troop into the project.
In the current stage, the POODL token goes for $0.0299 but will increase to $0.0335 in the next presale stage. Investors can purchase this token using SOL, BNB, ETH, USDT, USDC, and Fiat/card payment options.
According to the development team, Poodlana will not have a lock-up period for their tokens. The POODL presale will end on August 16 and the listing on exchanges will take place immediately after.
Read more about the Poodlana presale here.
50% of Poodlana’s total supply goes to presale
The Poodlana tokenomics is simple as the team values total transparency in its operations. The team will issue 1 billion POODL tokens, with 50% going presale. The remaining 50% will be divided among marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%). The Poodlana team assured investors that 100% of tokens will be unlocked on day one, with no lock-ups or vesting periods.
Furthermore, the unsold tokens would be burned after the presale, ensuring the deflation of the token, (which could lead to a price increase).
Is it a good idea to buy Poodlana tokens?
Poodlana is a meme coin that holds a lot of promise. However, the ultimate decision to invest or not depends on the investor. Meme coins have become a crucial part of the cryptocurrency ecosystem, with several of them having a market cap of $1 billion and above.
Poodlana wants to join this rank and become one of the leading meme coins in the world. The project is taking advantage of the popularity of the Poodlana dog breed and is building a community that could see it challenge industry leaders like Shiba Inu and Dogecoin.