SPX6900 Pumps 25% as Experts Call Snorter the Next Solana Meme Coin to Rally

SPX6900 (SPX) broke above the crucial $1.2 mark after gaining about 25% over the past week alone. In addition to its promising technical factors, SPX is currently benefiting from a sector-wide recovery for meme coins.

For context, some of the top weekly gainers include the biggest meme stars like Dogecoin (DOGE), Pump.fun (PUMP), Pudgy Penguins (PENGU), and FARTCOIN (FART). But SPX is one of the few blue-chip meme coins to have seen an over 20% recovery, far outpacing the meme coin sector’s 9% weekly growth.

One of the major contributing factors fueling this optimism is growing expectations of more interest rate cuts this quarter by the US Federal Reserve. The prospect of this development, along with the uncertainty due to the US government shutdown, has rekindled investor interest in the Web3 space.

The sequence of macro events now hints at the possibility of a highly anticipated altcoin season finally unfolding in Q4. It also creates the perfect backdrop for Snorter Bot (SNORT), the low-fee Solana-powered trading bot on Telegram, which has raised over $4 million in the presale of its utility token.

The time to buy SNORT at a discount is running out, since its presale price of $0.1067 will only be available for 17 more days. After that, the token will be listed, possibly at the height of Uptober, which could give SNORT substantial post-listing momentum.

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SPX Gains 25% from September Lows as Traders Watch for $1.3 Breakout

Soon after hitting an all-time high of $2.28 on July 28, SPX has been witnessing a streak of lower highs and troughs on its chart.

For over two months, the meme-coin parody of financial markets has been chalking out a classic descending channel on the daily timeframe. This basic, but highly reliable pattern indicates a consistent downtrend over a specific period, characterized by two parallel lines.

Since the meme coin has not yet breached the boundaries of this channel, its latest rebound from the $0.94 support level came as no surprise for chartists.

But despite many predicting this technical outcome, the fact remains that the rebound from the $0.94 level has still helped SPX gain more than 25% from its September 30 lows.

Looking ahead, technical analysts recognize that a descending channel typically gives way to a bullish breakout over time. This is why they’re eagerly waiting for a decisive close above the $1.3 level, which would confirm this breakout.

In the meantime, market commentator StarPlatinum highlights that analyst Murad accumulated nearly 23 million SPX in July 2024 for around $407,000.

He mentions that by January 2025, Murad’s SPX stack peaked at $42 million (up more than 10,000%). Even after the correction, it’s still worth nearly $30 million (up about 7,200%), making SPX the defining trade of his career.

In search of these gains from a new contender, meme coin enthusiasts are now buying Snorter Token, a new Solana meme coin, ahead of its exchange listing.

Analyst Tips Snorter Token to Be Next 50x Presale

Snorter Token isn’t just a barebones meme coin. It comes with real utility as the native token of Snorter Bot, a Telegram-based trading bot built on Solana’s tech stack.

The project is actively building a trading solution to empower retail traders to be able to make informed decisions and execute transactions at lightning speed. To enable this, it will use its proprietary technology to give its token holders access to new meme tokens the moment they hit the market.

Snorter Bot will scan through multiple liquidity pools to help find promising tokens and then “snipe” (or buy) them in less than one second. This helps users outspeed manual traders and competitor bots and provides them with the ground-level price for promising new meme coins.

What’s even more impressive is that it lets you do this for some of the lowest fees on the market. If you hold SNORT, you’ll just need to pay a minimal cost of $0.85% per trade (vs 1.5% for non-holders), a highly competitive pricing compared to the industry standard of 1%.

Investors are also praising the bot for its sophisticated security features, which flag scam or rug pull tokens well before users decide to snipe them. With an impressive 85% success rate in testing, this detector ensures your funds go into investments that pay off.

Adding to the SNORT token’s utility, holders can even gain unlimited snipe access and governance rights on Snorter.

Investment analyst Borch Crypto argues that Snorter could be one of the best crypto presales on the market right now, as the hype surrounding it grows ahead of its listing later in October. With over $4 million raised so far, he believes it has the potential to return 100x gains post listing if it carries out its roadmap plan.

He highlights the project’s plan to expand to multiple chains (Ethereum, BSC, and others) as a key factor for its adoption, as presence in new ecosystems could dramatically increase Snorter’s user base.

Buyers can visit the Snorter Token presale website to buy SNORT before its presale concludes in just over two weeks and stake their tokens for an annual reward of up to 113%.

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