Cryptocurrency prices ended the week on a high. Bitcoin It has now recovered most of its losses from Monday. Amazingly, the coin has risen from around $49,000 to over $60,000, with Solana and Sui soaring to $153 and $0.9422, respectively.
Poordrana is a newcomer.
While investors have been focused on major cryptocurrencies such as Bitcoin, Solana and Ethereum, many savvy traders have Poordrana.
Poodlana is an upcoming meme coin that calls itself the Hermes of crypto. Over the past decade, Hermes has become a cutting-edge luxury brand, thanks in part to its management's efforts to address the engineering shortage, and its Birkin bags often sell for over $100,000.
Poodlana also aims to be an improved version of the meme coin. It is named after the poodle, a very popular dog in Asia, which can sometimes be more expensive than a Shiba Inu or a Floki.
These characteristics explain why the Poodlana meme coin is selling like hotcakes: According to data on the company’s website, Poodlana has raised more than $6.3 million from investors in less than a month, making it one of the best-selling tokens on the market.
The performance is notable because it came at a time when Bitcoin and most tokens are still in the deep market. Just this week, the crypto fear and greed index moved into the greed zone for a while. In most cases, token sales do not do well when cryptocurrencies are falling.
Poudrana will begin trading on August 16.
Poodlana buyers are hoping the token will continue to perform well after it starts trading on Aug. 16. If that happens, it could create new millionaires, as we've seen with other meme coins that have emerged from nowhere to become multi-million dollar entities.
Dogecoin has a market cap of over $15 billion, while Dogwifhat and Brett have market caps of $1.79 billion and $963 million, respectively. Investors who sacrificed thousands of dollars are now cashing in millions as these tokens have outperformed the market.
Poodlana is different from most meme coins: its token sale will end on August 16th, and trading of the cryptocurrency will begin 60 minutes after that. This is unlike other tokens that are not available to traders for several months after the token sale ends.
Also, the token price has already increased during the presale. It was trading at $0.0499, but in the next phase it will rise to $0.053. So if you invest $100 now, you will receive 2,004 POODL tokens. If the price rises to $0.053, you will be able to buy 1,886 tokens with the same amount, which makes a huge difference.
There are other factors that could drive the Poodlana token higher when it begins trading, the most important of which is the Federal Reserve's expected start to cut interest rates in September due to a slowing U.S. economy.
As seen in 2021, meme coins such as Shiba Inu and Floki skyrocketed as the Federal Reserve slashed interest rates due to the pandemic. Click here to purchase Poodlena tokens.
