Meme enthusiasts shift to Poodlana (POODL) as market turbulence hinders Dogecoin progress

4 weeks ago 11

buy poodlana as ava labs reiterates bullish btc view

The top meme crypto, Dogecoin (DOGE), saw a 6% surge on 20 August as bulls targeted a $0.11 retest. The upsurge triggered a substantial increase in trading volume.

However, the altcoin could not keep the momentum and had erased all the gains at press time. With Dogecoin reflecting prolonged consolidation, meme coin enthusiasts seem to shift to the new Solana-based Poodlana (POODL).

Poodlana made waves recently after the successful completion of its limited-time-only presale, where it raised 8 million.

While the presale ended, Poodlana developers have ensured the initial excitement remains. They launched the asset on Raydium immediately after completing the ICO on 16 August 2024. Also, POODL listed on the leading trading platform MEXC, while awaiting another CEX listing on 23 August.

Dying to know where POODL is heading next after MEXC?! 💫

Hold your breath until the 23rd!

A top exchange listing is coming, but my lips are sealed… for now. 😉

— Poodlana Contact Desk  (@Poodlana_C) August 17, 2024

Poodlana’s listing on different trading platform shortly after its official debut will open the project to millions of traders, boosting its liquidity and market presence.

While Dogecoin fails to maintain stable price actions, Poodlana positions itself as the new king of meme cryptocurrencies. Let us find out more.

Inside Dogecoin’s struggles

Santiment revealed that DOGE’s 1-day Realized Value hit a monthly low of $12.43 million. The metric represents the worth of digital coins based on their last movement. A surge in Realized Value suggests that the assets could have higher prices as players spend cheaper coins.

Nonetheless, capitulation often catalyzed plunges in Realized Value as players spending more expensive assets could re-evaluate crypto prices lower.

In that context, DOGE could struggle to recapture $0.10 due to prolonged consolidations.

Technical indicators also support Dogecoin’s downward stance. The RSI stays beneath 50, confirming faded momentum and dominance bearishness.

The indicator should climb past the neutral 50 to rescue DOGE from consolidating beneath $0.09 – $0.10.

Poodlana: the new meme crypto king

Poodlana has proven to be unlike the usual meme cryptos with its strategic arrival into the marketplace. The stylish project captured the hearts of cryptocurrency enthusiasts with its exquisite combination of fashion luxury and poodle mascot.

Also, the Solana token started its journey in the Asian market, a hotspot for meme trading, luxury goods, and poodle ownership.

Poodlana has tapped crucial areas likely to fuel its growth in the upcoming months and years. Further, SOL is expected to skyrocket to record highs due to meme coin frenzy and ETHs narrative. POODL’s connection with Solana will also bolster its performance in the upcoming sessions.

Should you invest in POODL?

Poodlana could be a lucrative crypto project for market players looking for meme assets with real-world utility. Analysts believe themed tokens without use cases will hardly flourish in the upcoming bull run.

Poodlana’s meme culture, luxury fashion touch, and proactive developers set the project for massive growth.

While established themed tokens like Dogecoin lose appeal, early-stage Poodlana seems to have all it takes to take the meme crown.

Poodlana’s native token traded at $0.0338 at press time, up 30% in the last 24 hours.