SOL shorts suffer when prices rise; Solana Pudlana 3 million dollars has reached a great level
SOL rose above $187 to see more than $4 million of short positions liquidated.
Pudlana, the FashionFi meme coin, accelerated its pre-sale as the sector surged amid US politics and bearish crypto predictions.
POODL surpassed the $3 million mark on July 27, 10 days after the presale began.
The cryptocurrency market has seen more than $63 million in outflows in the past 24 hours. Most of that, about $45 million, is in short positions, data shows.
Solana (SOL), which is rising above $187, has seen more than $4 million in competitive bets canceled. Meanwhile, Pudlana has raised more than $3 million in pre-sales as Asia boosts investor interest.
As SOL increased, Solana's short liquidation reached $4 million
While Coinglass data Total crypto liquidity has dropped 67% in the above timeframe, with the market still seeing significant bearish bets.
Solana's liquidations totaled $4.95 million, with forced withdrawals pushing SOL's price up more than 5% to a record high of $188.
SolanaFloor shared its liquidity data on X, showing that the largest bear bet to be released on SOL was $560k. This happened when the price of Solana crossed the $187 mark.
🚨 LATEST: $SOL hits $187, more than $4 million in SHORTS POST.
Single largest short liquidation at $186 was $560K pic.twitter.com/8DaGNYIun5
— SolanaFloor (@SolanaFloor) July 27, 2024
Meanwhile, Bitcoin shed more than $16 million worth of shorts, while Ethereum covered nearly $7 million worth of shorts as both coins moved above key price levels. BTC traded above $68,300 while ETH rose above $3,290.
VanEck reported that a large number of people asked about Solana at the Bitcoin 2024 conference, and Solana took off.
VanEyck is one of the ETF issuers to register with the US Securities and Exchange Commission for the Solana Spot ETF. Analysts say approval for SOL ETFs in the US could come in 2025.
MAGA tokens jump when meme coins are raised
Solana Meme Coins experienced a 10% growth in the sector's market cap as meme coins are jumping amid the new optimism in the crypto market.
Although Bitcoin, Ethereum, and Solana are in the spotlight while whales buy BTC, ETH, and SOL, there are several signs that there is a lot of interest in meme coins.
Wen is up 20 percent, while politifi token MAGA is up 16 percent. Donald Trump will speak at the Bitcoin 2024 conference.
Top meme coins by market cap Dogecoin, Shiba Inu, Pepe and dogwifhat have also seen their respective price increases of more than 5% in the last 24 hours.
The broader mem coin market is more than 8% over $56 billion, but as the sector continues to grow, investor interest is in new potential gems.
Pudlana will accelerate to $3 million in pre-sales.
Pudlana is a new meme coin on Solana that is a mix of crypto culture and fashionistas looking to enter the market.
A combination of the global appeal of the fashion market and the increasing adoption of cryptocurrency, the poodle-inspired project has gained a lot of attention just days after its pre-sale. A week after the release of the 30-day POODL presale, the “Hermes of Crypto” has raised an impressive $3 million.
The viral appeal in Asia, where the poodle is the dominant dog breed, has contributed to this impressive support for the Pudlana. However, the project is captivating the global fashion-centric community and meme coin enthusiasts.
This appeal and the bullish forecast of the crypto will result in further gains for Pudlana when the project runs on the DEX within an hour of the pre-sale closing on August 16.
19 days until POODL enters the trading market and the chance to get a position is currently at $0.0299.
Specifically, this price jumps to $0.0335 at the next level and again every 72 hours until the final level. According to the details listed on the project's website, the DEX listing price will be $0.06.
To learn more about Pudlana or to join the community, visit their website.
