Crypto prices fell on Tuesday as ETF outflows collided with the aftermath of mass liquidations that occurred last week. However, rather than worrying, many smart money traders are buying the dip on projects that could outperform as the market recovers.
While there is certainly expected to be more volatility this week, one ecosystem that stood out for its resilience amidst the crash was Solana. This is not only due to price strength, but also the robustness of its infrastructure under extreme stress.
As centralized exchanges failed to fulfill orders, and gas fees reached as high as $50 on Ethereum Layer 2 blockchains, it was essentially business as usual for the Solana network, building an exciting outlook for tokens that operate within its ecosystem.
Therefore, traders have been pouring into a new Solana-based meme coin trading bot called Snorter (SNORT), which is currently undergoing a presale. So far, it has raised $4.6 million, a substantial amount for an emerging token.
Its presale momentum is rapidly picking up, despite a cooldown across the broader market, largely because the campaign ends in just six days. Analysts are expecting big things from SNORT once it hits exchanges, but right now is the final opportunity to buy in at a fixed rate of $0.1079.
What problems does Snorter solve?
The Solana trading bot market is currently dominated by two projects: Trojan and Bonk Bot. However, neither of these offers a native token, meaning that users are missing out on incentives.
In comparison, Snorter’s token offers trading fee discounts, staking rewards, and governance rights to vote on important decisions relating to the project’s future. Regarding trading fee discounts, Snorter users will pay only 0.85% in fees, while Trojan and Bonk Bot users will pay 1%. That’s a 15% saving which could compound into a massive difference over time.
But these are not the only problems Snorter addresses. Before getting into them, it’s worth outlining how Snorter works: there are two ways to place orders, automated token sniping and copy trading.
Automated token sniping enables users to input a contract address for a liquidity pool, and the bot will purchase the token immediately once liquidity is added. In contrast, copy trading allows you to input a wallet address, and the bot will mirror the wallet’s orders, providing a less research-intensive approach.
But one big concern in the meme coin space is rug pulls. Thousands of tokens launch daily, and only a few gain any meaningful traction. CoinDesk reports that almost $500 million was lost to rug pulls and scams in 2024 alone – this year, that number could be even bigger.
With that in mind, Snorter integrates a rug pull detection system that uses AI and verifies liquidity to help protect users against scam tokens. In its beta testing phase, the feature reportedly caught 85% of scam tokens, potentially making Snorter a crucial tool for those who want to stay safe while trading meme coins.
How SNORT could turn $100 into $50,000
If you buy $100 worth of SNORT at its current presale rate of $0.1079 and aim to recoup $50,000, the SNORT price would need to reach $53.95. Based on its total supply of 500,000,000 tokens, the SNORT fully diluted market capitalization would need to hit $26 billion.
That’s a huge figure, but it doesn’t tell the full story. As mentioned earlier, Snorter also offers staking rewards, which are currently valued at a 108% APY. While they will slightly decrease as the staking pool grows, the current issuance rate means stakers earn about an extra 30% of tokens annually. In other words, the market cap needs to increase by about 30% less to achieve the goal of turning $100 into $50,000.
That works out at a $17 billion valuation, which is still high, but not impossible. As it stands, this would place SNORT as the 11th largest cryptocurrency. However, in full-blown bull market conditions, where most large-cap cryptos generate between 2x and 5x gains, that might mean it only needs to rise into the top 30 or 50 cryptos.
It’s also worth noting that traders who reinvest their profits into the Snort bot, potentially through its copy trading feature, have an additional opportunity for passive returns that could contribute toward the goal.
And these aren’t just far-flung numbers – chatter is emerging among respected analysts that SNORT has huge upside potential. For example, Borch Crypto predicts 100x gains, but factoring in staking returns and potential profits from using the bot itself, it’s easy to see how this could grow into something even bigger.
Time to buy Snorter?
The Snorter presale is set to end in six days, meaning investors who want to secure the current fixed price of $0.1079 must act quickly.
Turning $100 into $50,000 is an extreme goal for any cryptocurrency, requiring perfect timing, a bulletproof use case, and solid tokenomics. Snorter may be one of the rare projects that holds all three, but that doesn’t automatically mean it will deliver such gains.
Nonetheless, it presents an exciting outlook and could well make SNORT one of the best cryptos to buy right now, or at least to strongly consider ahead of its upcoming exchange launch.
