October has been a tumultuous month in the crypto markets, with Bitcoin first reaching a new all-time high of $126,080 on October 6, only to see rapid liquidations shift sentiment to extreme fear just days later. However, prices have slowly begun to reestablish key support levels, and traders are now entering a healthier market, driven by spot buys rather than by leveraged positions. CoinMarketCap’s Fear and Greed Index is climbing out of the ‘fear’ zone, and prices are beginning to show strength.
Solana is currently setting the pace with a 4.2% gain over the past 24 hours, outperforming many of its large-cap counterparts. The Solana ecosystem is also thriving, but there’s one project everyone is eyeing: Snorter (SNORT).
Snorter recently held a presale, raising over $5 million, and although that ended a few days ago, investors can still buy at its exchange listing price of $0.1083. However, the exchange debut is in three days, so there’s little time left for those who haven't yet gotten involved. Snorter is developing a next-generation meme coin trading bot on Solana, so with the ecosystem heating up, investors are seizing the chance to buy early in anticipation of big gains ahead. Some analysts are even speculating that SNORT has 100x potential once it hits the open market.
What is the Snorter Bot Trying to Achieve?
Snorter has identified a gap in the market. Currently, the Solana meme coin trading bot sector is dominated by two key players, Trojan and Bonk Bot. Both operate on the Solana blockchain, offering rapid speeds and seamless integrations. However, they fall short in some areas.
For starters, neither offers its own native token, which could make it difficult for them to retain users if something else came along and piqued their interest. Second, both charge a 1% trading fee, which is not extortionate but also leaves room for another player to step in and undercut them.
Moreover, there are issues they don’t address, such as the pressing risk of meme coin rug pulls. And this is where Snorter comes in. The SNORT token offers trading fee discounts, staking rewards, and governance rights. These incentives could attract users from Trojan or Bonk Bot who want to secure more value from their on-chain activity.
Regarding trading fees, SNORT holders will pay just 0.85% per trade. That’s 15% less than Trojan or Bonk Bot, and in the volatile world of meme coins, these predictable savings could make a big difference.
Additionally, Snorter provides safeguards against rug pulls and other trading exploits. It’s developing a rug pull detection system that will flag potentially malicious smart contracts or signs of liquidity manipulation, helping protect its users.
Rug pulls are not only a source of losses in the meme coin market but also serve as a deterrent to new users. By building a rug-pull detection system, Snorter could attract new users to the meme coin space while also enabling existing traders to take positions with greater confidence.
Solana Ecosystem is Pumping - Could SNORT Be Next?
Prices across the Solana ecosystem are starting to rise - Pudgy Penguins is up 3.3% today, Bonk is up 4.5%, Dogwifhat is up 5.1%, and Fartcoin is up 12.3%. Meanwhile, smaller ecosystem tokens have surged even more.
A project called KnockOut Games has exploded 173%, VALOR is up 168%, and Crumbcat has gained 161%, per CoinGecko data. The movements of these smaller, under-the-radar meme coins highlight why many analysts believe Snorter could also be set for significant gains, with its low valuation and robust use case potentially making it one of the strongest prospects within the ecosystem right now.
In a recent YouTube video, Jacob Bury suggested that SNORT could 100x once it hits the open market.
However, with Snorter set to list on the open market in three days, the window to buy at the fixed rate of $0.1083 is closing fast. Once Snorter hits exchanges, supply-and-demand forces will take over, and the bullish momentum across the Solana ecosystem suggests that demand could far outstrip supply.
To buy SNORT today, simply visit the project’s website, connect your wallet, select the amount of tokens you want to purchase, and the crypto you wish to use for payment. Buyers can claim their tokens immediately once SNORT is listed on exchanges, but those who choose to stake their tokens will need to wait an extra week for the unlock.