The cryptocurrency market is experiencing significant movements, with Bitcoin (BTC) hovering around $65,000 and Ripple (XRP) surging by 13% in the last 24 hours.
This uptick comes amid positive inflows toward spot Bitcoin ETFs and the launch of the meme coin Poodlana on the Solana blockchain.
BTC was up 1.34%, trading at $64,856, and XRP was up 12.63%, trading at $0.62 at the time of writing.
Altcoin surge: XRP leads the pack
Bitcoin’s latest price increase accelerated after a failed assassination attempt on U.S. presidential candidate Donald Trump.
While Bitcoin’s recovery is notable, altcoins have also shown substantial growth. Ripple’s XRP stands out, with a 13% increase in the past 24 hours, reaching over $0.6, a multi-month high.
Other altcoins with significant gains include FET (up 13%), SOL (6%), DOGE (5%), AVAX (8%), DOT (5%), APT (10%), XLM (8%), and ATOM (8%).
The cumulative market capitalization of all crypto assets has surged by over $80 billion overnight, now sitting at just over $2.5 trillion. Bitcoin’s market cap is slightly above $1.280 trillion, maintaining its dominance over altcoins at 51.2%.
Poodlana: The new meme coin on the rise
Adding to the market’s excitement is the launch of Poodlana, a new meme coin on the Solana blockchain.
Poodlana’s presale has generated significant buzz, particularly in the Asian crypto market.
The token’s opening price of $0.02, a 62% markdown from its final price of $0.054, has attracted meme coin enthusiasts, especially in Asia where poodles are a popular fashion accessory.
The presale allocation of Poodlana tokens is expected to sell out quickly due to the strong momentum and cultural appeal. The ICO began on July 17, and prices are set to increase every three days, likely triggering FOMO (fear of missing out) among investors.
Reasons behind Poodlana’s rise
Poodlana’s rapid rise can be attributed to its clever marketing and cultural relevance.
Poodles have become one of the top three dog breeds in China, Korea, and Japan, regions with significant crypto market influence.
Poodlana leverages this trend, combining cuteness with humor, resonating with the crypto community’s appetite for viral content.
Poodlana’s marketing strategy includes humorous content and bold claims, positioning itself as the new king of meme coins.
It targets a market that has seen impressive results from tokens like DOGE, SHIB, and FLOKI but is eager for fresh and innovative options.
Beyond its initial virality, Poodlana has strong fundamentals that suggest long-term potential.
Half of its total supply of 1 billion POODL tokens is available during the 30-day presale.
The token’s price increases every 72 hours, driving early buy pressure.
The presale for the POODL token opens on July 17, offering an exclusive 30-day access to the meme coin. A transparent and no-games approach will see POODL go live on its first DEX shortly after its presale ends on August 16.
The immediate availability of POODL tokens post-presale is a positive sign for investors, indicating the potential for significant price increases once it hits the market.
The success of similar meme coins on the Solana blockchain, such as BONK, underscores the potential for Poodlana to achieve substantial gains.
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