Crypto merchants and buyers are gearing up for a brand new crypto bull run as sentiment within the business has improved and greed has set in. Bitcoin surged larger and retested the essential worth Resistance point at $70,000 after which pulled again. Different tokens additionally joined the rally and eventual sell-off.
Solana meme cash equivalent to Ebook of Memes (BOME), DogWifeHatt (WIF) and PopCat have been among the many finest performers on Monday. Poodlna (POODL), an upcoming Solana meme coin, continued its token sale, elevating over $3.5 million from buyers.
A brand new bull run could begin quickly
Crypto buyers imagine we might be experiencing a robust bull run within the coming weeks for a number of causes. First, there’s political goodwill within the crypto business, as evidenced by the latest Bitcoin convention in Tennessee.
In it, Donald Trump vowed to be a serious supporter of Bitcoin if elected president. He additionally stated that his administration would approve Bitcoin reserves for the federal government. This strategy would doubtless contain transferring a number of the 220k Bitcoins it holds into these reserves.
In the meantime, MicroStrategy founder Michael Saylor predicted that his base case is that Bitcoin will rise to $21 million within the subsequent 13 years. His worst-case situation is that the coin rises to $3 million whereas his most optimistic situation is that it rises to $49 million.
In a separate X publish, CryptoQuant founder Ki Younger Ju predicted that the crypto business remains to be in a bullish market that can final till mid-2025.
https://x.com/ki_young_ju/standing/1816895299237085548
The doubtless catalyst for this worth motion would be the upcoming easing cycle by central banks such because the Federal Reserve, the European Central Financial institution and the Financial institution of England. The ECB has already begun chopping rates of interest, whereas the BOE is predicted to start chopping on Thursday. The Fed will doubtless begin in September.
The tip of those excessive charges will doubtless result in a pattern in the direction of riskier belongings like Bitcoin and different cryptocurrencies.
Poodlana token sale is ongoing
In the meantime, meme coin buyers are getting ready to welcome a brand new fast-growing token into the ecosystem. The upcoming Solana meme coin, Poodlana, is predicted to start buying and selling in August after elevating tens of millions of {dollars}.
Information obtainable on its web site exhibits that Poodlana has raised over $3.5 million in funding in lower than three weeks because the builders launched the token sale.
For starters, Poodlana is a dog-themed token that includes the ideas of luxurious. It describes itself because the Hermes of crypto.
In keeping with its white paper, Poodlana has allotted 500 million tokens for its token sale. The remaining 50% of tokens will go to actions equivalent to advertising, liquidity, partnerships, and rewards.
Token holders will have the ability to commerce them half-hour after the token sale ends. It is a massive distinction in comparison with different token gross sales the place they continue to be closed for months. You should buy Poodlana tokens Here,
