- SOL price climbed above $187, triggering liquidations of over $4 million in short positions.
- Poodlana, a FashionFi meme token, accelerated its presale as the sector rallied amid U.S. policy developments and bullish crypto forecasts.
- POODL surpassed $3 million on July 27, just 10 days after the presale launched.
Cryptocurrency markets saw more than $63 million in liquidations over the past 24 hours. According to data, the majority—nearly $45 million—came from short positions. Solana (SOL) rose above $187, resulting in over $4 million of short liquidations. At the same time, Poodlana’s presale has topped $3 million as interest from Asia and other regions grows.
Short liquidations on Solana topped $4 million as SOL spiked
Although data from Coinglass indicate that overall crypto liquidations fell by 67% during the period referenced, the market still experienced a substantial number of short liquidations. Solana liquidations reached $4.95 million at the time of reporting, with forced exits occurring as SOL jumped more than 5% to $188. SolanaFloor shared liquidation details on X showing the largest single short liquidation on SOL was $560,000 when the price rose above $187. Meanwhile, Bitcoin had more than $16 million in shorts at risk of liquidation and Ethereum accounted for roughly $7 million in short liquidations as both assets moved above key price levels. BTC traded above $68,300 while ETH climbed past $3,290. Solana’s rally was also boosted after VanEck noted heavy interest at its booth during the Bitcoin 2024 conference, with many attendees asking about Solana. VanEck is among issuers that have filed for a Solana spot ETF with the U.S. Securities and Exchange Commission. Analysts expect SOL ETFs could be approved in the U.S. in 2025.
“Wen” and MAGA tokens jump as meme coins gain momentum
The market cap for Solana-based meme tokens rose roughly 10% as meme coins rallied amid renewed optimism across crypto markets. While Bitcoin, Ethereum and Solana have taken center stage as whales accumulate BTC, ETH and SOL, many meme tokens also saw notable gains. Wen climbed about 20%, and political meme token MAGA was up roughly 16% at the time of writing. Former president Donald Trump spoke at the Bitcoin 2024 conference. Top meme tokens by market cap—Dogecoin, Shiba Inu, Pepe and dogwifhat—also rose more than 5% over the last 24 hours. The broader meme coin sector expanded about 8% to exceed $56 billion, as investors hunt for new opportunities and potential breakout projects.
Poodlana presale accelerates past $3 million
Poodlana is a new Solana-based meme token aiming to carve out a niche by blending crypto culture with FashionFi. The project’s fusion of global fashion appeal and crypto’s mainstream momentum helped it gain rapid traction within days of launching its presale. Just over a week into its 30-day POODL presale, the project—billed by some supporters as a “crypto Hermes”—had raised an impressive $3 million. Viral interest in Asia, where Poodlana’s mascot motif resonates strongly, has contributed to the surge in support. The project has also attracted a fashion-focused global community as well as meme token enthusiasts. This momentum and increasingly bullish crypto forecasts have helped propel Poodlana toward additional milestones: the team plans a DEX listing one hour after the presale closes on August 16. As of this report, there are 19 days until POODL reaches open markets and the current presale price stands at $0.0299 per token. According to the project roadmap, the price will rise to $0.0335 in the next phase and continue to increase at 72-hour intervals through the final stage. The DEX listing price is stated as $0.06 on the project’s presale page. For more information or to join the community, visit the project’s website.