Solana has been at the receiving end of the market’s volatility recently, leaving investors looking for the best crypto to buy now to look elsewhere. One of the best options that has emerged on the market is also a Solana-based token.
Known as Snorter, the project has raised upwards of $4 million to date, and investors believe that its potential as an explosive asset is immense. A trading bot project active on Telegram, Snorter has been able to ride the volatile market currents and gain massive engagement from the masses. But could it succeed given that Solana is currently moving on volatile waters?
Solana Price Action: A Minor But Significant Drop
Solana’s price action over the last 24 hours has been volatile. There have been more than a few price spikes on the intraday charts followed by lengthy red candles. As a result, the Solana price has dipped by 1% in the last 24 hours.
An asymmetrical triangle pattern is emerging, which means Solana is due for a breakout. The immediate resistance for the crypto is $214, and the critical support right now is $206. At the time of writing, Solana is trading around the $209 level.
Despite the volatile market conditions, however, some analysts seem to believe that a bullish price action is coming. Ezekiel, a major analyst, has pointed out that Solana could be reaching its all-time high value soon.
On the other hand, there are also analysts who believe that the cryptocurrency may be heading to the $190 level.
The analyst warned the bulls that they must act fast to prevent the flush from deepening.
Why has the Solana price been behaving this way? The answer lies in the current macroeconomic conditions, and also in the fact that Solana has not provided much in the way of technological updates lately. While the ETF conversation is going strong, people have already grown tired of institutional talk since this narrative is getting old. Even Solana investors may not be considering it the best crypto to buy now.
Snorter: Solana Meme Coin Trading Bot
While Solana has dipped, Snorter is a meme coin preparing itself to make an explosive debut on exchanges this month. A Solana-based meme coin, SNORT powers a trading bot that’s active on Telegram.
According to the official website, the project promises a different view of the market, which could be much better and more suitable than the likes of DEXtools, Raydium, and others. The entire imagery of the project, which features an aardvark, portrays a system that lets investors sniff out the best investment opportunities quickly.
The core token of the ecosystem, SNORT, gives users access to the trading bot, which reportedly offers a variety of perks. These include the lowest fees on Solana, exclusive access to new tokens, the fastest execution on Solana, and frontrunning and MEV protection.
In terms of fees, Snorter is also said to charge the lowest at just 0.85%. And while the project has entered the market as a trading bot on Telegram, in the future, it will be introducing trading algorithms, DeFi partnerships, and even a Trading API.
Why Snorter Could Become the Best Crypto to Buy Now?
The official website has revealed that Snorter is on its last stretch as a presale. The ICO will conclude on October 20, and with it, the project’s true potential will be revealed. However, many analysts, such as Borch Crypto, have already pegged it as potentially the best crypto to buy now.
And the reasons provided are legitimate.
Meme Coins are Trending
Due to a massive wave of volatility among the high-cap cryptos, especially caused by geopolitical conditions that recently pushed the Bitcoin price below the $110K level, people have diverted their funds into low-cap cryptos or assets with viral potential, such as meme coins. This is evident from a string of days on which the top crypto gainers have been meme coins.
Under these circumstances, projects like Snorter can potentially make the most gains.
Unique Utility
There have not been many meme coin projects that have provided a utility such as a trading bot. That’s where Snorter makes itself different from the rest. Its sharp focus on providing a trading bot makes it unique among meme coins.
Snorter’s trading bot is multi-chain and offers multiple functionalities, with many of the features directed toward securing users’ assets. It includes honeypot protection, rug pull protection, MEV protection, and more. The project being on Telegram gives Snorter a unique edge, and the added benefit of social trading features gives it a distinctive level of engagement.
Unique Mascot
Snorter’s unique mascot makes it a suitable pick among investors looking for a meme coin with a different touch. The imagery of an aardvark is one that hasn’t been part of the meme coin space before, and it should have been. There is a funny core to the imagery, and the way Snorter has been able to connect the memes with the token’s utility makes it a strong pick among investors.
Presale Momentum
Snorter has already raised more than $4 million, which signifies the massive interest among investors. The engagement this project is receiving now could translate into massive gains in the future if the project continues to maintain the same level of momentum post-presale.
Conclusion
People looking for the best crypto to buy now have been forced to take creative measures amidst a market that refuses to be less than volatile. There is no clear direction, which is why Snorter has been generating a lot of interest among Solana investors. Its mascot is unique, and the added benefit of a trading bot makes it stand out among utility cryptos.
Visit Snorter
This article has been provided by one of our commercial partners and does not reflect Cryptonomist’s opinion. Please be aware our commercial partners may use affiliate programs to generate revenues through the links on this article.