Bitcoin bounces back after massive selloff; BRETT and Poodlena shine
Bitcoin trades above $55K after seeing a sharp sell-off below $50K.
BRETT meme coin is leading the top earners among 100 coins by market value.
Pudlana surpassed $5 million in pre-sales 10 days before listing on DX.
A number of altcoins are in the green as Bitcoin prices bounce back from Monday's lows amid a dramatic sell-off that engulfed crypto and stocks.
As the price of Bitcoin (BTC) looks set to rise above $55k, meme coin BRETT (BRETT) is leading the altcoins with a gain of over 30% in 24 hours. Meanwhile, traders looking at the new Solana-based meme coin Pudlana (POODL) extended its pre-sale period as the project surpassed $5 million.
Bitcoin moves above $55k as market eyes recover.
Bitwise Chief Investment Officer Matt Hougan is bullish despite the crypto crash.
In the year August 5, 2024 The meltdown that crippled the crypto market is comparable to the crash that hit global capital markets in mid-March 2020, in a post on Monday X.
As it happened then, Bitcoin caused the cryptocurrency to decline amid a violent response to the Covid pandemic. But the market has increased, and Hugan believes that the current recession can provide such an opportunity.
8/ But March 12, 2020 was no time to panic. It was the best buying opportunity for bitcoin in a decade.
— Matt Hougan (@Matt_Hougan) August 5, 2024
Bitcoin has recovered some of the losses seen when it dipped below $50k, and if the declines represent new lows, it could use explosives.
BRETT leads the market winners with a 30% increase in 24 hours.
The crypto market has rebounded with a market cap of more than $2 trillion as several altcoins posted significant gains in the past 24 hours. Although Ethereum (ETH), Solana (SOL) and BNB (BNB) have made good gains in early Asian hours, the biggest gainer at the time of writing is the base meme coin BRET (BRET).
According to CoinMarketCap data, BRETT saw a 33% jump to reach a 24-high of $0.094. Brett's trade volume increased 5 percent to $93.8 million. At the time of writing BRETT, while Bittensor (TAO), AIOZ Network (AIOZ), Ondo Finance (ONDO) and Akash Network (AKT) are outperforming, prices remain in the red over the past week and month.
BRETT's price has fallen by 31% in the past week, bringing its losses to around 23% in the past month.
Poodlena presale: Traders take POODL.
Pudlana (POODL) is attracting a lot of attention despite the current market outlook. Since launching its presale on July 17, the new Solana meme coin has grossed more than $5 million in 20 days.
Solana's new meme coin describes itself as a project ‘where crypto meets couture'. Poodle fashion is inspired by the poodle, a dog breed that international celebrities and celebrities want to make a statement in poodle fashion.
This fusion of fashion and crypto to drive a new era of dog-themed market token has gained the greatest enthusiasm in Asia, where China, Japan and Korea are leading the new crypto wave. Pudlana's pre-sale success suggests the launch could be explosive in the market.
When will Poodlena DEX launch?
The project is expected to list its token on August 16, as Pudlana has offered a 30-day pre-sale. The presale price started at $0.06 and reached $0.0539 at the final presale level, before hitting the DEX within an hour of the token sale closing.
That means traders who want to stock up on the new SOL meme coin at a discounted price only have 10 days to buy POODL. Details also reveal that Pudlana will launch with 100% of its presale tokens unlocked.
Currently, POODL is priced at $0.0416, the next level is set to rise to $0.0458.
You can learn more about this new meme coin by joining the community here.
