Bitcoin struggles to surpass $60k despite CPI report as Poodlana presale begins in five days

Key takeaways

BTC rallied past the $59k mark on Thursday but has since retraced as the market failed to capitalise on yesterday’s CPI report.
The Poodlana presale commences in five days as investors get ready for another Solana meme coin.

Bitcoin dips below $58k as bears stay in control

The cryptocurrency market has had a positive week so far, with prices of most coins and tokens up by more than 3% in the last seven days. Bitcoin has rebounded from the $53k low established last weekend and is now trading above $57k per coin.

BTC is down by more than 2% in the last 24 hours. At press time, the price of Bitcoin stands at $57,246. The bearish performance over the last 24 hours comes despite the recent CPI report indicating a decline in inflation in the United States.

Market participants are confident that the Federal Reserve will cut interest rates in its next meeting in September. Despite this positive news, BTC continues to struggle to push above the $60k psychological level.

What’s Poodlana?

Amid the consolidating market performance, new projects continue to emerge and Poodlana is one of the meme projects to keep an eye on. However, Poodlana is taking a unique approach in the market in a bid to become one of the leading meme coins in the crypto space.

Poodlana is a new Solana meme coin focused on introducing the glamor of high fashion to the crypto world. The development team has set a goal of making Poodlana the number one dog token on the planet.

With Poodlana, investors will own meme coins that embrace the ethos of community-driven growth while providing them with unique value.

Per their whitepaper, the team revealed that Poodles are in the top 3 dog breeds in Japan, Korea, and China where they are essential fashion accessories for the glitterati. Thanks to its popularity in Asia, the development team will leverage this combined with the love of meme coins in these countries to build a strong community.

Poodlana’s presale commences in five days

The Poodlana presale is fast approaching and will commence in five days. The presale will commence on July 17 and last for 30 days. Only the crème de la crème can join with SOL, BNB, ETH, USDT, USDC and Fiat/card payments.

With this presale, there would be no lock-up period for their tokens, no games, just pure, unadulterated excellence. The POODL presale goes live on July 17 and ends on August 16.

According to the website, the presale will be in 10 stages, with a price increase every three days, from $0.0200 in stage 1 to $0.0539 in the final stage.

Poodlana to issue one billion tokens

Poodlana is adopting a simple tokenomics approach to ensure maximum transparency amongst its community members and investors. The total supply will be 1 billion POODL tokens, with 50% going presale.

The remaining 50% will be split amongst marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%). 00% of tokens will be unlocked on day one, ensuring there are no lock-ups or vesting periods.

Following the end of the presale, Poodlana will burn unsold tokens. Investors will start claiming their tokens immediately after the presale, with the token set to list on decentralized exchanges (DEXs) hours after the presale.

Click here to learn more about Poodlana

Should you buy the Poodlana token?

Poodlana wants to become one of the leading dog-themed meme coins in the market, and its transparency is a huge plus for investors. By leveraging the popularity of the Poodlana dog, similar to the Shiba Inu dog, the project could gain massive adoption in the coming months and years.

The presale will last for 30 days, which means investors have a limited period to invest in the project before it is listed on exchanges. The swift listing on crypto exchanges could also help attract more investors to the project.