Why Is Crypto Crashing? Poodlana Pushes Ahead Despite Slump

The post Why Is Crypto Crashing? Poodlana Pushes Ahead Despite Slump appeared first on Coinpedia Fintech News

TL;DR

• Crypto is down on the back of the Fed delaying rate cuts, heightened tensions in the Middle East, and a lower likelihood of “crypto president” Donald Trump being elected in November.
• Poodlana, a viral meme coin still in presale, offers an opportunity to make massive gains despite overall market conditions

The crypto market is down today, following the lead of stocks, with Bitcoin once again below $65k and other major cryptos floundering. This week’s FOMC meeting poured cold water over the hopes of bulls, and an escalation of hostilities between Israel and Iran solidified risk-off sentiment in the wider market.

Amid the chaos, Poodlana’s viral meme coin presale continues to steam ahead, hitting a $4.2 million raise overnight despite the market’s struggles, offering profit hunters a rare option in a sea of red.

Why is crypto crashing?

“Crashing” might be a slight overstatement, but the crypto market is feeling the pressure of multiple macroeconomic factors today.

The Fed revealed plans this week to maintain current policy, reducing the likelihood of anticipated interest rate cuts in September. Rate cuts have historically been a plus for Bitcoin, and therefore the wider crypto market, meaning that bulls’ euphoria has been dampened somewhat.

Elsewhere, new polls suggest that Kamala Harris has miraculously drawn level with Donald Trump in the US presidential race. Just weeks ago, a Trump victory over Biden seemed a foregone conclusion, igniting optimism in the crypto community after the former president rolled out a slew of pro-crypto pledges, ranging from looser regulations to a strategic Bitcoin reserve. Now, a Harris presidency looks plausible, raising questions over the future of crypto in one of its biggest markets.

And, to rub salt in the wound, Israel and Iran look closer than ever to an all-out hot war after the Israeli assassination, on Iranian soil, of Hamas chief Ismail Haniyeh. As seen with the Russia-Ukraine war, global conflict stymies crypto growth, as investors pull out of risk-on assets in favor of more established options like oil and gold.

Despite a fairly bearish outlook, though, there is profit still to be had in the crypto markets, if one knows where to look.

Poodlana stands tall

Investors in one token aren’t asking, “why is crypto crashing?”—in fact, they probably haven’t even noticed.

Poodlana is a Solana meme coin, now more than halfway through its 30-day presale, riding a viral surge that originated in Asia. The presale has now raised an incredible $4.2 million in just two weeks, continuing to build momentum that analysts are predicting will lead to a 7,600% rally in the coming months.

While Bitcoin, Ether, and the like struggle to maintain current prices, with bears eyeing the $55k mark, Poodlana is carving its own path, and it doesn’t look like stopping. The presale ends on 16th August, with the POODL token hitting leading Solana DEX Raydium at 12 p.m. UTC the same day. 

This means that the momentum built during the presale will be able to spill directly into public trading, laying the groundwork for a huge day one rally. With other Solana meme coins like NEIRO and FWOG pumping by 32x and 59x respectively on their first day of Raydium trading, the stage is set for a stellar performance from Poodlana.

POODL is currently priced at $0.038, a hefty markdown from the Raydium list price of $0.06, so now is the time to buy if you’re looking for serious potential gains in an otherwise barren market. Time really is of the essence, though: presale prices tick up every 72 hours, so don’t miss the best entry available.

Go to the Poodlana website to purchase POODL tokens and find out more.