Poodlana, the fast-growing Solana meme coin, is set to list on Raydium on Friday after completing one of the year’s most successful token sales.
The Poodlana token listing is imminent
With four hours remaining in the sale, the developers had raised more than $7.9 million from investors, a figure likely to surpass $8 million by the time the offering closes.
Unlike many cryptocurrencies that wait months before appearing on exchanges, Poodlana will begin trading almost immediately after the sale ends. Specifically, the token will be listed on Raydium just one hour after the sale concludes.
Raydium has become the most popular DEX in the Solana ecosystem. According to DeFi Llama, the network holds more than $910 million in assets. Over the past seven days it processed transactions exceeding $2.7 billion, and it continues to gain market share.
Raydium is not the only exchange preparing to list Poodlana. MEXC, one of the world’s largest cryptocurrency exchanges, has committed to listing the token on August 19. The developers have also hinted that a major Tier-1 exchange—most likely Binance or OKX—will list POODL on August 23.
The Raydium listing marks the start of what developers expect will be a long campaign to elevate POODL into one of the largest meme coins worldwide. After launch, the team plans to continue marketing the token to increase its popularity among crypto assets.
The next phase will focus on building the ecosystem, including introducing staking so holders can earn rewards. Additional airdrops and bonuses are planned to reward long-term holders.
Growing the ecosystem is crucial in the memecoin space, where many projects are short-lived. Earlier this year, several meme coins such as MOTHER, DADDY and WATER experienced rapid spikes that attracted buyers but subsequently collapsed.
Poodlana’s appeal
Poodlana aims to change the short-term nature of many memecoins. The project name and branding draw inspiration from the Poodle, a popular Japanese dog breed that often commands higher prices than other meme-brand pets like Shiba Inu and Floki.
The project positions itself as a luxury brand, comparing its image to high-end labels such as Hermès, which remains one of the most desirable luxury names among elite consumers. While many luxury stocks—like Kering and Burberry—have fallen, Hermès shares recently reached record highs.
There are additional reasons to be optimistic about Poodlana as the crypto market pulls back and sentiment cools. Noted crypto analyst Miles Deutscher suggested that the current lull could represent a period of consolidation before a recovery.
We are entering another phase of apathy/temporary capitulation. In the last 2 weeks: • Crypto YouTube views down about -30% • Coinbase app ranking down from #159 to #502 • Trading volume down -21% (Binance) Buckle up. Things are getting boooooring.
— Miles Deutscher (@milesdeutscher) August 14, 2024
Key catalysts for meme coins could include upcoming Federal Reserve rate cuts, the end of summer, and the conclusion of the U.S. election cycle. The POODL token can be purchased from the project’s site.