Key Points

• Bitcoin has lost 3% of its value and is once again trading below $60,000.
• Poodlana’s native token is now live on the MEXC exchange, after the presale concluded.

BTC Could Drop Below $59K as Mt.Gox Moves More Bitcoin

Bitcoin is underperforming again after a positive start to the week. The world’s largest cryptocurrency by market cap is trading below $60k after losing 3% of its value in the past 24 hours.

At the time of going to press, the price of Bitcoin is trading at $59,409 and could fall further if bears remain in control. The bearish performance comes after Mt.Gox moved over $700 million worth of bitcoins to an unknown wallet. Traders are expecting more sell-offs in the market as Mt.Gox distributes more bitcoins to its creditors.

What is Poodlana?

The broader market is negative, but cryptocurrency adoption is still growing among both retail and institutional investors.

Poodlena is one of the projects that is gaining popularity among investors. It is a Solana-based meme coin that aims to introduce the glamour of high fashion to the crypto world.

By focusing on promoting the community ethos 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 Poodlena presale is officially over, with $8 million raised during the event. The project wasted no time in listing its token on a centralized 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 cryptocurrency exchange could list more pairs such as POODL/BTC and POODL/ETH in the coming weeks or months.

Poodlana reserves 50% of total stock for pre-sale

Poodlana has not adopted a lock-up period, meaning that the tokens are now available to investors. According to their tokenomics, Poodlena will have 1 billion POODL tokens, 50% of which will go through pre-sale.

The remaining 50% is split between marketing (15%), rewards (5%), partnerships (5%), treasury (10%) and liquidity (15%).

Poodlana’s team kept their promise and unlocked 100% of their tokens right after the pre-sale. The unsold tokens would be burned, ensuring the deflation of the token.

Should you buy POODL because it is listed on exchanges?

If you purchase the Poodlena tokens during the presale, you can still buy them via crypto exchanges. Currently, POODL is only available on MEXC, but may be listed on other exchanges soon.

Memecoins have become a crucial part of the cryptocurrency ecosystem, with several reaching $1 billion or more in market cap. Given that POODL is still in its early stages, this could be the perfect opportunity to invest in the project.