• Bitcoin is buying and selling above $55,000 after a pointy sell-off beneath $50,000.
• Brett (BRETT) meme coin is main the beneficial properties among the many high 100 cash by market cap.
• Poodlana has surpassed $5 million in presales with simply 10 days left till its DEX itemizing.

Bitcoin costs are rebounding from Monday's lows and a number of other altcoins are rising as cryptocurrencies and shares plummet.

As Bitcoin (BTC) costs proceed to climb above $55,000, meme coin BRETT is main the altcoin reversal with a 24-hour achieve of over 30%. In the meantime, merchants eyeing new Solana-based meme coin Poodlana (POODL) are stepping up the tempo of its presale because the mission crosses the $5 million mark.

Bitcoin trades above $55,000 as market recovers

Bitwise Chief Funding Officer Matt Hogan stays bullish on cryptocurrencies regardless of the sell-off.

In a submit on X on Monday, he stated the crash that collapsed the cryptocurrency market on Aug. 5, 2024, will probably be corresponding to the crash that hit international capital markets in mid-March 2020.

As was the case then, Bitcoin noticed its cryptocurrency slide amid a chaotic response to the COVID-19 pandemic, however the market recovered and Hogan believes the present downturn might current such a chance.

8/ However March 12, 2020 was not a time to panic. It was one of the best alternative to purchase Bitcoin within the final decade.

— Matt Hogan (@Matt_Hougan) August 5, 2024

Bitcoin has recovered among the losses seen throughout its drop beneath $50,000 and may benefit from an explosive rebound if this decline marks a brand new backside.

BRETT leads market gainers because it rises 30% in 24 hours

The cryptocurrency market capitalization has surpassed $2 trillion as a number of altcoins recorded notable beneficial properties over the previous 24 hours. Ethereum (ETH), Solana (SOL) and BNB (BNB) recorded sizeable beneficial properties throughout the early Asian hours, however it was base meme coin Brett (BRETT) that recorded the biggest achieve on the time of writing.

In response to knowledge from CoinMarketCap, BRETT's worth elevated 33% to hit a excessive of $0.094 on the twenty fourth. Brett's buying and selling quantity elevated 5% to over $93.8 million. On the time of writing, BRETT is outperforming Bittensor (TAO), AIOZ Community (AIOZ), Ondo Finance (ONDO), and Akash Community (AKT), though their costs stay decrease over the previous week and month.

BRETT's worth has fallen 31% previously week, with losses over the previous month standing at round 23%.

Pudrana Presale: Merchants scoop Pudrana

Regardless of the present market outlook, Poodlana (POODL) is attracting plenty of consideration. The brand new Solana meme coin launched its presale on July seventeenth, elevating over $5 million in whole proceeds in a file 20 days.

Solana's newest meme coin describes itself as a “cryptocurrency meets couture” mission, impressed by the poodle, a breed of canine that's taking the style world by storm, with the world's high celebrities and elite eager to make a press release in poodle style.

The convergence of style and cryptocurrency is ushering in a brand new period of dog-themed market tokens, with the most important buzz in Asia as China, Japan and South Korea lead the brand new crypto wave. Poodlana's presale success suggests the corporate's launch may very well be an explosive debut out there.

When will Poodlana DEX be launched?

Poodlana supplied a 30-day presale, so the mission plans to record the token on August 16. The presale worth will begin at $0.06 and attain $0.0539 within the closing presale stage, with the token anticipated to be listed on the DEX inside an hour of the token sale ending.

Which means that merchants trying to take a place within the new SOL meme coin at a reduction will solely have 10 days to buy POODL. The main points additionally state that Poodlana will probably be launched with 100% of the presale tokens unlocked.

At the moment, the worth of POODL is $0.0416 and is predicted to rise to $0.0458 within the subsequent stage.

Yow will discover out extra about this new meme coin by becoming a member of our neighborhood right here.