Bitcoin and Ethereum are down on Monday as macroeconomic jitters continue to shake the market. Bitcoin is currently trading at $108,400 after a 3% weekly sell-off, and Ethereum has fallen to $4,400 following a 4% weekly decline.
However, it’s not all bearish news – several meme coins are gaining traction. Two meme coins related to President Trump, OFFICIAL TRUMP and BUILDon, lead the top gainers today with 7% and 4% upticks, respectively. Pump.fun’s native $PUMP token is not far behind, with a 2.5% rally.
Meanwhile, new meme coin trading bot Snorter ($SNORT) has experienced a massive surge in its ongoing token presale, having just crossed the $3.5 million raised mark. This reflects strong investor support but is particularly impressive given the market’s mood.
The project is developing a Solana-based trading tool on Telegram that helps users identify promising new meme coins while charging the lowest fees and also protecting against rug pulls, one of the most common forms of scams in the crypto industry.
Investors can buy $SNORT today at a price of $0.1029, but this price will go up as the campaign progresses. Therefore, potential buyers should not wait to get involved.
Why is Snorter pumping despite the dip?
Major cryptocurrencies have dipped today as traders prepare for the Fed’s September FOMC meeting in 16 days, which will decide whether interest rates will be cut. Friday’s hot PCE data reflected rising inflation, creating a potential headwind for a September rate cut.
Nonetheless, the FedWatch tool signals an 87.6% chance of a rate cut, suggesting that the crypto market selloff may be an overreaction to the PCE news – especially considering Fed Chair Jerome Powell’s remarks at the Jackson Hole summit in August, where he hinted that Fed policy will shift its focus from inflation to employment.
While it’s not necessarily that Snorter investors are more aware of this than the average crypto trader, the optimistic tone in the meme coin space, along with the project’s presale phase, seems to be encouraging people to buy despite the dip.
The Snorter presale offers a fixed and incrementally increasing price, therefore serving as a refuge from the turbulent volatility seen in exchange-traded cryptocurrencies recently.
And considering the potentially market-shaking impact that the Snorter bot could have once it launches, it’s clear why the presale continues to rally.
Its presale strength is also attracting attention among analysts, with some like Borch Crypto backing it for 100x gains once it hits the open market.
Copy trading, automated token sniping, and rug pull detection
One of Snorter’s core features is copy trading, which is ideal for those who want to replicate the trading style of another successful trader. For example, you could input Murad‘s wallet addresses and only buy and sell in sync with him.
The project also features an automated token sniping tool that will automatically execute trades based on predefined criteria. This is a great way to catch breakout meme coins without having to stay glued to your screen.
Traders can also place trades with limit orders and add dynamic stop losses, giving them more control to enter and exit trades at the exact price points they’re comfortable with.
Additionally, Snorter helps reduce risks. It includes an AI-powered rug pull detection to automatically flag malicious tokens. It also boasts MEV resistance, meaning MEV bots cannot front-run or manipulate trades executed through Snorter. This creates a fairer environment for traders, where their orders are protected from the most common on-chain pitfalls.
Finally, Snorter offers the lowest fees on the market at just 0.85%, saving users money that can grow over time and potentially lead to larger profits.
By combining advanced order types with risk mitigation and low fees, Snorter is well-positioned to attract users upon its launch, which could cause the $SNORT price to surge.
Investors can also maximize their gains by staking $SNORT during the presale. Staking offers a current APY of 127%, but rewards will decrease as more tokens are staked.
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