Solana Meme Coins Skyrocket 30%: Poodlana Rides the Momentum Past $5.4 million
The post Solana Meme Coins Skyrocket 30%: Poodlana Rides the Momentum Past $5.4 million appeared on BitcoinEthereumNews.com.
It has been a tough few days for crypto. However, the market has already started to pick up again. Bitcoin surged back above $57,000 at press time after briefly dipping below $50,000 on Monday. Interestingly, against this bearish backdrop, many mainstream market commentators have missed a particularly eye-catching story. Solana-based meme coins are up 30% in the past 24 hours, with SOL surging a whopping 38% from Monday’s lows. That puts BTC’s recovery to shame. In addition, red-hot SOL-based meme coins and SOL presales like Poodlana (POODL) are exploding right now. This recent meme coin uptrend reflects a broader truth in the crypto market: when the going gets tough, meme coins like Poodlana roll up their sleeves and deliver the best bang for your buck. Here is why. When the chips are down, meme coins deliver the best performance Meme coins demonstrate profound resilience and consistently outperform the major cryptos, even in bear markets. Their raw performance, especially dog-themed tokens, has produced some of the largest and fastest price increases. That is likely why Poodlana has already raised a whopping $5.4 million in just a few weeks. This perpetual pumping is primarily because meme coins are not reliant on fundamentals. As a result, how markets decide the true value of assets, factoring in utility and dynamic macroeconomics, is less relevant. The virality and humor of meme coins can bring a smile to even the most sullen-faced investor. It ensures demand—whatever the weather—is constant. To identify the pattern, you only have to look at Dogecoin and Shiba Inu’s performance across multiple cycles. While these coins started as jokes, they have evolved into DeFi powerhouses. They aren’t afraid to buck the market status quo regularly. Crucially, one project aiming to join them—or overtake them, becoming the world’s new No. 1 canine coin—…
Filed under: News - @ August 8, 2024 9:24 am