Poodlana token sale nears $8M ahead of Raydium listing

Poodlana, the fast-growing Solana meme coin, is ready to listing on Raydium, on Friday after working probably the most profitable token gross sales of the 12 months. 

Poodlana token itemizing is nearing

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

Poodlana, not like 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 preferred Solana DEX. Information by DeFi Llama exhibits that the community has over $910 million property within the ecosystem. On the similar time, it has dealt with over $2.7 billion value of transactions within the final 7 day and is constant to achieve market share. 

Raydium shouldn’t be the one alternate that’s anticipated to listing Poodlana. MEXC, one of many largest crypto exchanges on the planet, has pledged to listing the token on August nineteenth whereas the builders have hinted {that a} main tier 1 alternate – more than likely Binance or OKX – will listing it on August twenty third.

Itemizing the Poodlana token is only the start of what’s anticipated to be an extended journey to make the POODL token one of many largest meme cash on the planet. After its launch, the builders will proceed advertising the token in a bid to make it the preferred asset in crypto. 

The subsequent part will contain constructing the ecosystem, comparable to introducing staking, the place customers can earn returns. They may also launch extra airdrops and bonuses to reward long-term holders. 

The ecosystem development is essential within the meme coin trade, which is usually short-term. Simply this 12 months, many meme cash like MOTHER, DADDY, and WATER surged, attracted patrons, and have now imploded.

Poodlana’s attraction

Poodlana hopes to alter the short-term nature of meme cash. As a part of its attraction, the builders have named it after Poodle, a extremely well-liked Japanese canine that usually sells for more cash than different manufacturers like Shiba Inu and Floki.

On the similar time, it’s a luxurious model that sees itself as Hermes, the preferred 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 well-liked crypto analyst, hinted that this boring part might be a type of accumulation and that cryptocurrencies may bounce again quickly.

We’re coming into the apathy/time capitulation part 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 principle catalyst for these cash would be the upcoming Federal Reserve rate of interest cuts, the top of the summer time season, and the top of the American election. You should buy the POODL token right here.