The Solana price has dropped 6% in the past 24 hours, falling to $219. However, traders aren’t concerned – the asset remains well above key support levels, and a major upcoming catalyst suggests a bullish rebound is days away.
As traders prepare for Solana’s next move, a new token called Snorter (SNORT) is grabbing everyone’s attention. It’s a next-generation Solana-native meme coin trading bot, designed not only to help users identify the next breakout launch but also to protect against scams.
The project is currently in its presale, having raised $4.4 million so far, with an impressive $100,000 generated just in the past day alone. Its momentum has surged recently, and that’s due to one main reason: the presale ends in 11 days.
Therefore, this is the last chance to buy SNORT at a fixed, discounted rate of $0.1073 – and many traders don’t want to miss out. The token is about to be listed on exchanges, and some experts believe this will spark rapid price growth, potentially making SNORT the crypto to buy for Uptober gains. Let’s see what it’s all about.
Upcoming ETF deadlines could fuel institutional SOL demand, says analyst
Institutional demand could give SOL the momentum it needs to reach price discovery, with nine ETF applications holding deadlines with the US Securities and Exchange Commission (SEC) this week. Bloomberg’s senior ETF analysts, James Seyffart and Eric Balchunas, predict a 95% chance of approval, citing clearer regulations and new leadership at the SEC.
So what could this mean for the SOL price? Simply put, it’s good news. Analyst HODL Gentlemen wrote that if the ETFs “get the green light, SOL could enter a new chapter of institutional adoption,” in a post on X on Tuesday.
Its price chart supports this bullish outlook. Analyst NekoZ predicts that SOL could hit $346 with the next upward move, representing a 57% increase from today’s price. He points to SOL trading in a parallel upward channel and notes that it recently bounced from the support level. The analyst calls this “one of the cleanest charts in the market right now.”
While SOL prepares for a rebound, traders are busy identifying tokens that could offer more gains as its next rally unfolds, and this is where Snorter steps in.
Why Snorter is the best Solana token for Uptober
The Solana ecosystem has become the go-to hub for meme coins in recent years, with five of the top ten largest meme coins and nine of the top 20 launching on the network.
With this level of activity, the ecosystem benefits from market-leading infrastructure, such as meme coin launchpad Pump.fun. This platform not only provides a seamless token creation experience but also fosters consistent on-chain engagement, attracting thousands of new traders daily.
This has spurred a surge in demand for meme coin trading bots, which is exactly where Snorter fits in. Designed for Solana’s fast-paced trading environment, Snorter provides features like sub-second trade execution, sniping, copy trading, and rug pull detection – all tailored to help traders catch explosive new launches while avoiding the frequent rug pulls that complicate meme coin trading.
One major advantage over competitor Solana trading bots, Trojan and Bonk Bonk, is that Snorter issues its own token. This isn’t just a way for investors to gain exposure to the Solana bot market; it’s also a tool to attract users through incentives and rewards, potentially helping Snorter rapidly build a significant market share.
The SNORT token provides staking rewards, trading fee discounts, and governance rights. Regarding fee discounts, Snorter users pay just 0.85%, compared to 1% for Trojan and Bonk Bot users. Over time, these 15% savings on each trade can accumulate to substantial amounts, which can then be reinvested to potentially generate even bigger profits.
Unsurprisingly, this setup is catching the attention of top industry analysts, with Alessandro de Crypto recently tipping SNORT for 100x gains. However, he emphasized that the presale is ending soon, so potential investors need to act quickly to secure the discounted rate.
Snorter’s multichain integrations hint at long-term potential
Despite Solana’s historic strength as a meme coin hub, there has been growing interest in different ecosystems lately. For example, since late September, Binance Smart Chain has increased its market share in the trading bot sector. It has even accounted for 95% of the volume in the past 24 hours, according to Dune Analytics data.
This is precisely why Snorter was designed with multichain capabilities. Although it will initially launch on the Solana blockchain, Snorter also plans to expand to EVM-compatible chains, such as BSC and Ethereum.
This strategy could make SNORT an “all-weather” investment opportunity, allowing it to attract demand regardless of where market interest shifts next. In the fast-paced world of meme coin trading, this is precisely the kind of setup that could unlock real staying power.
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