Solana's Memecoin Sector Experiences a Surge: $PUMP Skyrockets by 77% due to Enthusiasm from Snorter's Participation
In the world of cryptocurrency, Solana continues to make waves, with its meme coins seeing significant gains in the past 24 hours. This surge is particularly noticeable in the performance of the Snorter Token ($SNORT), a governance token for the Snorter Bot, a trading bot for Solana and Ethereum meme coins.
The Snorter Bot, a combined effort from a team of developers, is designed to provide a fast, secure, and user-friendly trading bot and token ecosystem. Holding $SNORT comes with benefits such as reduced trading fees (down to 0.85%), unlocking advanced features, and increasing trading limits.
Recent developments in the Snorter Token have been noteworthy. A whale recently bought $107.1K worth of $SNORT, and if you were to invest $100 today, you would receive approximately 954 tokens. Assuming the staking APY of 118% is applied for a year, your staked tokens could grow by 118%, meaning your 954 $SNORT could become roughly 2,079 $SNORT by year-end.
Projections suggest that $SNORT could reach $0.40 in 2026, a promising outlook for the token. The Snorter Token presale has already raised $3.9M, with the token currently costing $0.1047. The next price rise in the presale comes at $4.4M, and the final target listing price is set at $0.1053.
Solana's meme coins are not the only ones experiencing a surge. Top 24-hour gainers on Solana include Freya ($FREYA (+97%)), Scam ($SCAM (+50%)), Qstay ($QSTAY (+48%)), Bonk ($BONK), Dogwifhat ($WIF), and Mogcoin ($MOG). $WIF showed a 77% increase in its 24-hour trading volume.
Pump.fun's $PUMP token has also surged 77% over the past week, thanks in part to the platform's recent marketing efforts and creator rewards. Pump.fun aims to reward meme coin creators every time someone makes a transaction on their token.
Other significant upgrades on Solana include the new consensus protocol, 'Alpenglow,' which has been approved via a governance vote. Upgrades such as Firedancer aim to improve throughput and decentralization, while reducing latency and fees.
The 24-hour trading volume on Solana is up by 8.57%. This growth, coupled with the positive performance of Solana's meme coins, indicates a promising future for the platform.
This article was authored by Aaron Walker. You can read the full article here.
Stay tuned for more updates on the world of cryptocurrency.
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