SOL prices rose to over $187 and over $4 million in short positions were liquidated.
FashionFi's meme coin Poodlana accelerated its presale as the industry surged amid bullish predictions for U.S. politics and cryptocurrency.
POODL surpassed $3 million in sales on July 27, just 10 days after pre-sales began.
The cryptocurrency market has seen over $63 million in liquidations in the past 24 hours, with most of this, around $45 million, being short positions, according to the data.
Solana (SOL) surged above $187, liquidating over $4 million in bearish bets, while Poodlana surged to over $3 million in presales on growing interest from Asian investors.
Solana short seller liquidation hits $4M as SOL surges
meanwhile Coin Glass Data Although it shows that total cryptocurrency liquidations fell by 67% within the aforementioned period, the market still saw significant bearish bets.
At the time of writing, total liquidation for Solana had reached $4.95 million, with the forced selling occurring as SOL price increased by over 5% to a high of $188.
SolanaFloor shared X’s liquidation data, showing that the largest bearish bet against SOL was liquidated for $560,000, which occurred when the price of Solana rose above $187.
🚨 Update: Over $4 million in short positions liquidated as $SOL hits $187.
The largest short liquidation was $560,000 at $186. pic.twitter.com/8DaGNYIun5
— Solana Floor (@SolanaFloor) July 27, 2024
Meanwhile, over $16 million in Bitcoin short positions were liquidated, while Ethereum accounted for around $7 million in short positions, with both coins rising above key price levels: BTC traded above $68,300, while ETH hit a high above $3,290.
Solana rose after VanEck reported that a large number of people asked about it at its booth at the Bitcoin 2024 conference.
VanEck is one of the ETF issuers that has filed for the Solana Spot ETF with the U.S. Securities and Exchange Commission. Analysts say approval for the SOL ETF in the U.S. could come as soon as 2025.
WEN, MAGA Token Surges as Meme Coin Rise
Meme coins surged amid renewed optimism in the cryptocurrency market, with Solana Meme Coin sector market cap rising 10%.
Bitcoin, Ethereum, and Solana are attracting attention as whales buy BTC, ETH, and SOL, but several tokens are trending due to high interest in meme coins.
At the time of writing, Wen is up 20% and PolitiFi token MAGA is up 16%. Donald Trump is scheduled to speak at the Bitcoin 2024 conference.
The top meme coins by market cap – Dogecoin, Shiba Inu, Pepe and dogwifhat – also saw their prices increase by more than 5% each in the past 24 hours.
The overall meme coin market grew 8% to more than $56 billion, but as the sector grows, investor interest is turning to new potential gems.
Pudrana accelerates to $3 million in presale
Poodlana is a new meme coin from Solana that aims to ride the fusion of crypto culture and FashionFi into the market.
The combination of the global appeal of the fashion market and the growing adoption of cryptocurrency has seen the poodle-inspired project garner significant attention in just a few days since its presale began. Just over a week after the 30-day POODL presale began, “Hermes of Crypto” has raised a staggering $3 million.
Poodlana's overwhelming support has been fuelled by its massive popularity in Asia, where the poodle is a popular breed, but the project has also attracted fashion-centric communities and meme coin enthusiasts from around the world.
This appeal, along with bullish predictions for the cryptocurrency, is likely to fuel further gains for Poodlana once the project launches on DEXs within an hour of the end of its presale on August 16.
There are 19 days left until POODL hits the trading market, and the current position opportunity is $0.0299.
Notably, the price will jump to $0.0335 in the next stage and then again every 72 hours until the final stage. As per details on the project website, the DEX listing price will be $0.06.
If you would like to learn more about Poodlana or join the community, please visit their website.
