Solana (SOL) Surging Above $187 Has Seen Over $4 Million in Bearish Bets Liquidated

The cryptocurrency market has witnessed over $63 million in liquidations over the past 24 hours. Data shows most of these, nearly $45 million, are in short positions.

Cryptocurrency liquidations hit $63 million as SOL short positions total nearly $45 million

The cryptocurrency market has witnessed over $63 million in liquidations over the past 24 hours. Data shows most of these, nearly $45 million, are in short positions.

Solana (SOL) surging above $187 has seen over $4 million in bearish bets liquidated. Meanwhile, Poodlana has soared to over $3 million in presale as Asia drives investor interest.

Solana short liquidations hit $4 million as SOL surges

While Coinglass data shows the total crypto liquidations had declined 67% within the above timeframe, the market still saw a notable amount of bearish bets.

Solana liquidations reached a total of $4.95 million at the time of writing, with the forced exits happening as SOL price climbed more than 5% to touch highs of $188.

SolanaFloor shared the liquidation data on X, showing that the largest bearish bet on SOL to be liquidated was $560k. This happened as Solana’s price crossed the $186 mark.

? LATEST: Over $4 million liquidated in SHORTS position as $SOL hits $187.

The single largest short Liquidation was $560K at $186 pic.twitter.com/8DaGNYIun5

— SolanaFloor (@SolanaFloor) July 27, 2024

Moreover, Bitcoin had over $16 million in shorts liquidated and Ethereum accounted for about $7 million of the short positions as both coins moved above key price levels. BTC traded above $68,300 while ETH hit highs above $3,290.

Solana rose as VanEck reported that a large number of people at its booth at the Bitcoin 2024 conference asked about Solana.

VanEck is one of the ETF issuers to file for a Solana spot ETF with the US Securities and Exchange Commission. Analysts say the approval for SOL ETFs in the US could come in 2025.

Wen, MAGA tokens jump as meme coins rise

Solana meme coins have experienced a 10% bump in the sector’s market cap as meme coins jumped amid fresh optimism in the crypto market.

Although Bitcoin, Ethereum and Solana are in the limelight as whales buy BTC, ETH and SOL, a lot of interest in meme coins had several tokens trending.

Wen spiked 20%, while PolitiFi token MAGA was up 16% at the time of writing. Donald Trump is set to speak at the Bitcoin 2024 conference.

Top meme coins by market cap Dogecoin, Shiba Inu, Pepe and dogwifhat also saw their respective prices increase by more than 5% in the past 24 hours.

The broader meme coin market is up 8% to over $56 billion, but as the sector gains, investor interest is on new potential gems.

Poodlana accelerates to $3 million in presale

One such project is Poodlana, a new meme coin on Solana that seeks to break into the market riding a blend of crypto culture and FashionFi.

The combination of the global appeal of the fashion market and cryptocurrency’s rising adoption has the poodle-inspired project gaining massive traction just days after its presale launch. Slightly over a week since the 30-day POODL presale went live, the “Hermes of Crypto” has raised an impressive $3 million.

A viral appeal in Asia, where the poodle is a top dog breed, has contributed to this staggering support for Poodlana. However, the project is also captivating the global fashion-centric community and meme coin enthusiasts.

This appeal and the bullish predictions for crypto will catalyse further gains for Poodlana when the project goes live on DEX within an hour of its presale close on August 16.

19 days until POODL hits the trading market and the opportunity to position currently stands at $0.0299.

Notably, this price will jump to $0.0335 in the next stage and again every 72 hours until the final stage. According to details on the project’s website, DEX listing price will be $0.06.

To discover more about Poodlana or to join the community, visit their website.