Bitcoin drops below $60k and could dip lower as MEXC lists POODL
Key takeaways
Bitcoin has lost 3% of its value and is trading below $60k once again.
Poodlana’s native token is now live on the MEXC exchange after its presale has been concluded.
BTC could drop below $59k as Mt.Gox moves more bitcoins
Bitcoin is underperforming again following a positive start to the week. The world’s leading cryptocurrency by market cap is trading below $60k after losing 3% of its value in the last 24 hours.
At press time, the price of Bitcoin stands at $59,409 and could dip lower if the bears remain in control. The bearish performance comes after Mt.Gox moved over $700 million worth of bitcoins to an unknown wallet. Traders are anticipating more selloff in the market as Mt.Gox distributes more bitcoins to its creditors.
What is Poodlana?
The broader market is bearish, but the adoption of cryptocurrencies continues to pick up pace, both among retail and institutional investors.
Poodlana is one of the projects that is gaining traction among investors. It is a Solana-based meme coin focused on introducing the glamor of high fashion to the crypto world.
By focusing on promoting the ethos of community while providing utility to users, Poodlana could become one of the leading dog-themed meme coins in the world. The team will leverage Poodlana’s popularity in Japan, Korea, and China to build a strong community for this project.
Poodlana’s token now live on MEXC
The Poodlana presale has officially ended, with $8 million raised during the event. The project didn’t waste time getting its token listed on a centralised cryptocurrency exchange.
MEXC, a leading crypto exchange, announced earlier this week that POODL, Poodlana’s native token, is now live on its trading platform. Currently, only the POODL/USDT pair is live on MEXC, but the crypto exchange could list more pairs, such as POODL/BTC and POODL/ETH, in the coming weeks or months.
Poodlana allocates 50% of the total supply to presale
Poodlana didn’t adopt a lock-up period, which means its tokens are now available to investors. Per their tokenomics, Poodlana will have 1 billion POODL tokens, with 50% going presale.
The remaining 50% will be divided among marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%).
Poodlana’s team kept their promise and unlocked 100% of their tokens immediately after the presale. The unsold tokens would be burned, ensuring the token’s deflation.
Should you buy POODL as it lists on exchanges?
If you missed buying the Poodlana tokens during the presale, you can still purchase them from crypto exchanges. At the moment, POODL is only available on MEXC but could be listed on other exchanges soon.
Meme coins have become a crucial part of the cryptocurrency ecosystem, with several having a market cap of $1 billion or more. With POODL still in its early days, this could be the perfect opportunity to invest in the project.
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