Key points:
- Bitcoin lost 3% of its value and is trading again below $60,000.
- After the presale concluded, the native Poodlana token is now listed on the MEXC exchange.
BTC could fall below $59,000 as Mt. Gox moves bitcoins again
After a positive start to the week, Bitcoin has weakened once more. The world’s largest cryptocurrency by market capitalization is trading below $60,000 after losing about 3% of its value over the past 24 hours.
At the time of writing, the price of Bitcoin was $59,409, and it could slide further if bearish momentum continues. The drop followed a large transfer by the Mt. Gox exchange, which moved over $700 million worth of bitcoins to an unknown wallet. Traders now fear additional selling pressure as Mt. Gox continues to distribute coins to its creditors.
What is Poodlana?
Despite a broadly bearish market, retail and institutional investors continue to adopt cryptocurrencies, and that trend shows no signs of slowing.
Poodlana is an emerging project gaining traction among investors. It’s a meme coin built on Solana that aims to bring high-fashion glamour into the crypto space.
The Poodlana team is focused on building a strong community while delivering utility to users, positioning the project as a potential leader among dog-themed meme tokens. To accelerate community growth, the team plans to leverage Poodlana’s early popularity in Japan, Korea, and China.
Poodlana token now available on MEXC
The Poodlana presale officially concluded, raising $8 million. The project moved quickly to list its native token on a centralized exchange.
Earlier this week, leading exchange MEXC announced that POODL, Poodlana’s native token, is now tradable on its platform. Currently the POODL/USDT pair is available; additional pairs such as POODL/BTC and POODL/ETH may be added in the coming weeks or months.
Poodlana allocated 50% of tokens to the presale
Poodlana did not implement a lock-up period, meaning tokens became available to investors immediately after the presale. According to the tokenomics, the project will mint 1 billion POODL tokens, with 50% allocated to the presale.
The remaining 50% of tokens are distributed as follows: marketing 15%, rewards 5%, partnerships 5%, treasury 10%, and liquidity 15%.
The Poodlana team honored its commitment and unlocked 100% of tokens immediately after the presale. Unsold tokens will be burned to create deflationary pressure and support long-term scarcity.
Should you buy POODL now that it’s listed?
If you missed the presale, you can now purchase Poodlana tokens on cryptocurrency exchanges. At present, POODL is available on MEXC, with the possibility of listings on additional exchanges soon.
Meme coins have become a significant segment of the crypto ecosystem, with some projects reaching valuations of $1 billion or more. Given that POODL is still in its early stages, some investors may view the current period as an opportunity to enter the project—though as with all speculative assets, potential buyers should perform thorough research and consider the risks before investing.