Poodlana token sale nears $8M ahead of Raydium listing

Poodlana, the fast-growing Solana meme coin, is ready to record on Raydium, on Friday after operating one of the crucial profitable token gross sales of the yr. 

Poodlana token itemizing is nearing

With 4 hours to go, the builders have raised over $7.9 million from buyers, a determine that would prime $8 million.

Poodlana, in contrast to different cryptocurrencies that spend months earlier than itemizing in exchanges, will begin buying and selling nearly instantly after the sale ends. Exactly, it is going to begin buying and selling on Raydium, only one hour after that. 

Raydium has grown into the most well-liked Solana DEX. Knowledge by DeFi Llama exhibits that the community has over $910 million property within the ecosystem. On the identical time, it has dealt with over $2.7 billion price of transactions within the final 7 day and is continuous to achieve market share. 

Raydium isn’t the one change that’s anticipated to record Poodlana. MEXC, one of many greatest crypto exchanges on the planet, has pledged to record the token on August nineteenth whereas the builders have hinted {that a} main tier 1 change – almost definitely Binance or OKX – will record it on August twenty third.

Itemizing the Poodlana token is only the start of what’s anticipated to be a protracted journey to make the POODL token one of many greatest meme cash on the planet. After its launch, the builders will proceed advertising the token in a bid to make it the most well-liked asset in crypto. 

The following section will contain constructing the ecosystem, akin to introducing staking, the place customers can earn returns. They can even launch extra airdrops and bonuses to reward long-term holders. 

The ecosystem development is necessary within the meme coin trade, which is commonly short-term. Simply this yr, many meme cash like MOTHER, DADDY, and WATER surged, attracted consumers, and have now imploded.

Poodlana’s enchantment

Poodlana hopes to vary the short-term nature of meme cash. As a part of its enchantment, the builders have named it after Poodle, a extremely in style Japanese canine that usually sells for extra money than different manufacturers like Shiba Inu and Floki.

On the identical time, it’s a luxurious model that sees itself as Hermes, the most well-liked model among the many elite. Whereas most luxurious model shares like Kering and Burberry have slumped, Hermes inventory has risen to the very best level on report.

There are different causes to be bullish on Poodlana now that cryptocurrencies are retreating and the sentiment has waned. In a press release, Miles Deutscher, a preferred crypto analyst, hinted that this boring section could possibly be a type of accumulation and that cryptocurrencies may bounce again quickly.

We’re getting into the apathy/time capitulation section once more.

Within the final 2 weeks:

• Crypto YT views are down ~-30%• Coinbase app rating is down from #159 to #502• Buying and selling quantity is down -21% (Binance)

Strap in. Issues are getting boooooooring.

— Miles Deutscher (@milesdeutscher) August 14, 2024

The primary catalyst for these cash would be the upcoming Federal Reserve rate of interest cuts, the top of the summer season season, and the top of the American election. You should purchase the POODL token right here.