MemeCore Price Crash? Whales Are Pouring Gains Into Snorter Token Instead

Price action in the crypto market has been shaky for most coins following the August 29 dip – but despite the generally bearish sentiment, MemeCore (M) more than quadrupuled in value over the same period.

However, the buying pressure MemeCore enjoyed over the past weeks is slowly becoming exhausted as holders turn to profit-taking. As a result, fresh capital is steadily reaching the presale of the next potentially sensational meme coin, Snorter (SNORT).

This shift in interest has already helped Snorter raise $3.8 million for its upcoming Solana (SOL) trading bot. Let’s see how analysts expect MemeCore and Snorter to perform this year, to determine whether rotating is a smart play.

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Will a Crash Follow MemeCore’s Move to a $2B Market Cap?

Designed to introduce a new generation of meme coins that thrive on more than short-lived popularity, MemeCore takes a community-driven approach. Its ecosystem rewards everyone who participates in creating and supporting meme coins. This includes developers, stakers, content creators, and others who get involved via the project’s core mechanism, Proof of Meme (PoM).

As the utility token of this “Meme 2.0” Layer 1 blockchain, the M coin has greatly benefited from the MemeCore network’s popularity. Joining the market in early July at $0.03907, it first broke above $1 on August 30.

As its upward trajectory accelerated over the past week, M reached a record high of $1.97 on September 7. It boasted a market cap of more than $2 billion at the time, and it still ranks above high-profile meme coins like Official Trump (TRUMP), Bonk (BONK), SPX6900 (SPX), and Floki (FLOKI) as the market’s fifth-largest meme coin.

However, the crypto expert Tryrex believes M reached its top yesterday, expecting a sharp correction to follow the impressive growth.

Tryrex anticipates a dip toward the $1.35 level, which would represent a 32% decline from MemeCore’s peak. Already following that trajectory, M has experienced a 10% loss over the past 24 hours, and currently stands at $1.72.

Traders seem to agree with the expert’s bearish outlook, as M’s long/short ratio sits at just 0.49. This shows that two out of every three traders are shorting the token in anticipation of a downward trend continuation.

M’s move past its 1.618% Fibonacci extension at $1.87 also brought it into overbought territory. With a 94.65 Relative Strength Index (RSI), the token faces limited upside potential. As such, it could struggle to reclaim its immediate support at $1.79 as sellers take control.

All eyes are now on MemeCore’s ability to hold above its strongest support level at $1.62. Failure to stay above it could see M erase the bulk of its gains by moving closer to the $1.35 mark.

While M’s downturn makes headlines, its developers are already preparing to introduce the MemeCore Buyback Program. This is designed to use the revenue generated by MemeCore’s ecosystem components for the buybacks. Although it may not halt the current downtrend, the program could support M’s post-dip recovery.

Here’s Why Snorter Could Become This Cycle’s Top Meme Coin Play

As the excitement surrounding MemeCore diminishes, traders are already rotating back into the Solana meme coin ecosystem, which is up 10% today. Appearing ready to explode, this sector is now preparing for the debut of Snorter (SNORT) and its Solana-based Telegram trading bot.

SNORT’s backers will benefit from its ties to the heating market for Solana meme coins, as well as also Snorter Bot’s advanced features. With live SOL pair tracking and numerous automatic trading features, Snorter gives smaller traders a chance to compete against whales. It’ll also offer copy trading, automatic token sniping, and other cutting-edge features from day one.

Additionally, Snorter Bot will charge fees of just 0.85% for those holding SNORT, giving its native token real utility. The presale analyst June Crypto believes access to the cost-effective bot will boost the demand for SNORT, driving tremendous gains for the token.

Whales are already securing these benefits at a discount, as SNORT’s price will only rise as the presale goes on. One whale has made multiple four-figure SNORT purchases over the last week, increasing his position by another $2,508 earlier today.

Designed to help its users capture emerging explosive opportunities on Solana, Snorter Bot also will expand to other chains (like Ethereum, Polygon, and Binance Smart Chain) in the future. SNORT now boasts $3.8 million raised as whale adoption accelerates, indicating that major buys could also follow exchange listings.

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