Price action in the crypto market has been shaky for most coins following the August 29 dip \u2013 but despite the generally bearish sentiment, MemeCore (M) more than quadrupuled in value over the same period.<\/p>\n
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)<\/a>.<\/p>\n This shift in interest has already helped Snorter raise $3.8 million for its upcoming Solana (SOL) trading bot. Let\u2019s see how analysts expect MemeCore and Snorter to perform this year, to determine whether rotating is a smart play.<\/p>\n This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.<\/strong><\/em><\/span><\/p>\n 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\u2019s core mechanism, Proof of Meme (PoM).<\/p>\n As the utility token of this \u201cMeme 2.0\u201d Layer 1 blockchain, the M coin has greatly benefited from the MemeCore network\u2019s popularity. Joining the market in early July at $0.03907, it first broke above $1 on August 30.<\/p>\n 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\u2019s fifth-largest meme coin.<\/p>\n However, the crypto expert Tryrex believes M reached its top yesterday, expecting a sharp correction to follow the impressive growth.<\/p>\n Tryrex anticipates a dip toward the $1.35 level, which would represent a 32% decline from MemeCore\u2019s peak. Already following that trajectory, M has experienced a 10% loss over the past 24 hours, and currently stands at $1.72.<\/p>\n Traders seem to agree with the expert\u2019s bearish outlook, as M\u2019s 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.<\/p>\n M\u2019s 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.<\/p>\n All eyes are now on MemeCore\u2019s 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.<\/p>\n While M\u2019s downturn makes headlines, its developers are already preparing to introduce the MemeCore Buyback Program. This is designed to use the revenue generated by MemeCore\u2019s ecosystem components for the buybacks. Although it may not halt the current downtrend, the program could support M\u2019s post-dip recovery.<\/p>\n 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)<\/a> and its Solana-based Telegram trading bot.<\/p>\n SNORT\u2019s backers will benefit from its ties to the heating market for Solana meme coins, as well as also Snorter Bot\u2019s advanced features. With live SOL pair tracking and numerous automatic trading features, Snorter gives smaller traders a chance to compete against whales. It\u2019ll also offer copy trading, automatic token sniping, and other cutting-edge features from day one.<\/p>\n 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.<\/p>\n
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\nWill a Crash Follow MemeCore\u2019s Move to a $2B Market Cap?<\/h2>\n
Here\u2019s Why Snorter Could Become This Cycle\u2019s Top Meme Coin Play<\/h2>\n