Snorter Token’s Solana Meme Bot Raises $260,000 in Two Days, Challenging Banana Gun’s Dominance

Banana Gun’s crypto trading bot boasts an 88% sniping win rate on Ethereum, while the new Solana-based Snorter Token ($SNORT) aims to replicate this success across multiple chains. The project has already raised $260,000 in its first two days of presale.

Snorter, represented by an aardvark mascot, aims to become the leader among meme crypto trading bots, using its advanced technology to identify the most profitable sniping opportunities.

The $SNORT token offers unlimited sniping capabilities, the lowest trading fees in the market, and the fastest execution speeds. It features MEV-resistant swaps to prevent sandwich attacks, real-time market surveillance to identify scammers, anti-rug and honeypot detection, limit orders, stop-losses, and copy trading functionality.

Snorter also includes a professional live dashboard for managing holdings and monitoring profit and loss (PnL), along with a new pairs feature that places fresh on-chain opportunities just a click away.

Investors can purchase Snorter tokens in the presale at the second-lowest price of $0.0937 using cryptocurrency or a credit card.

If traders are struggling to make money trading meme coins, it is likely because they are not using a bot like Snorter. Automated trading now accounts for the majority of decentralized exchange (DEX) volume, potentially reaching 70%. In essence, trading without a bot is no longer optimal.

According to research by Delphi Digital, Banana Gun, which launched in 2023, delivers an 88% win rate for users sniping bundles on Ethereum.

Sniping bundles involves buying large quantities of tokens immediately after they launch on a DEX and selling them shortly after for a significant profit.

Speed is critical in this strategy. Snorter’s highly optimized Solana RPC infrastructure is designed to excel in this area. While Banana Gun has proven its success on Ethereum, most meme coin activity currently occurs on Solana.

Snorter Bot will leverage leading-edge technology to capitalize on this trend. It is also multichain-ready, launching with support for Solana, followed by Ethereum, BNB Chain, Base, and Polygon.

Why trading with Snorter token offers the lowest fees in the market

Bots contribute significantly to market efficiency by tightening spreads and increasing liquidity.

However, retail investors have only recently gained access to algorithmic trading strategies that were previously reserved for institutional and professional traders.

The integration of Telegram has been a game-changer for usability. Bot technology allows Telegram to act as a frontend for automated market making, which is the core function of crypto trading bots. Trojan is currently the market favorite, and like Banana Gun, it is a key target for Snorter to surpass.

Both Banana Gun and Trojan charge fees of 1%. Even with referral benefits, they cannot match Snorter’s ultra-low trading fee of 0.85%.

Snorter is not just competing on price; it is also offering a utility-rich token. $SNORT holders gain access to exclusive rewards, competitions, referral programs, and premium bot features.

Staking is also available, with early participants able to earn up to 1,184% APY. This yield is dynamic and will decrease as more tokens are deposited into the staking smart contract. Already, 2.1 million $SNORT tokens have been staked.

Additionally, Snorter functions as a governance token, giving token owners voting rights on decisions such as which chains to add to the supported roster.

Allowing users to influence Snorter’s development aligns with the team’s commitment to the decentralized ethos that underpins the multi-billion-dollar crypto trading bot industry.

Banana Gun’s $11 billion volume private sale raised only $1.2 million, while Snorter opens its presale to all

Unlike Banana Gun, which held a private sale in September 2023 that raised $1.2 million (despite launching earlier that year), Snorter is conducting an open public presale.

Snorter aims to raise significantly more than Banana Gun’s funding round, demonstrating its ambitious scale.

The $250,000 raised by Snorter in just a few days indicates that the project will have ample funds to deliver the product upon completion of the presale. Development is already well-advanced, with beta testing underway. Investors can be confident that Snorter Bot will launch shortly after listing.

Despite its relatively modest fundraising compared to its volume, Banana Gun has been successful. However, there have been no updates on its website news feed since last year, nor any updates to its claimed trading volume of $5 billion in July 2024.

This suggests a lack of marketing effort from the Banana Gun team, potentially indicating a slowing of momentum or a lack of attention to detail (see chart below).

According to Dune Analytics, Banana Gun’s lifetime trading volume has doubled in less than a year to $11.12 billion.

The last reported daily trading volume on Dune was $61 million on May 26, generating fee revenues of $347,928. This is down from a high of $2.69 million on March 25, 2024.

Notably, its volume split between Ethereum and Solana was $41 million to $7 million, suggesting that Banana Gun users may be missing out on the alpha generated by meme coin launches on Solana. Banana Gun appears to have left a significant opening for Snorter.

Nevertheless, Ethereum remains the dominant chain for DeFi, with the highest and deepest liquidity in the industry, even if it is not the primary chain for meme coin minting.

Considering this market structure, Snorter is implementing a secure, streamlined Solana-Ethereum bridge. This allows users to move seamlessly between chains, benefiting from Ethereum’s deep liquidity and Solana’s meme coin supremacy.

Snorter is building an institutional-grade platform that integrates copy trading and market intelligence

As mentioned, Snorter aims to lead in sniping. Users can utilize its features through copy trading, which simplifies the trading process.

Trojan has led the way in iterating its user-friendly interface on Telegram. Setting up copy trading and enabling critical tweaks, such as auto-sell configurations, allows users to determine when to take profits, how much to take, and where to set stop losses.

Snorter Bot will perform these functions but with more resources and tools for research, education, and guides on identifying the best wallets to copy.

Telegram services like dEdge have earned a reputation for helping retail investors find the best addresses to copy. However, after a free introductory period, users must pay a subscription.

Free services offer cut-down versions with less information on wallet trades and PnL than dEdge, but they are worth considering if users are aware of their limitations. Dexcheck.ai is one such product.

Snorter aims to eliminate this clutter by providing a turnkey, all-in-one solution. It combines market intelligence to identify new tokens for sniping with the ability to copy profitable wallets.

With 25% of its total supply of 500 million tokens allocated to product development, Snorter plans to launch a comprehensive, institutional-grade package that leaves competitors behind.

How to buy $SNORT token in presale

To participate in the presale, connect your crypto wallet at snortertoken.com and purchase using SOL, ETH, BNB, USDT, USDC, or a credit card.

Buying Snorter tokens using Best Wallet provides direct access to the presale and maximum token visibility.

Best Wallet’s innovative ‘Upcoming Tokens’ feature offers exclusive access to other promising coins not yet trading on exchanges. Depending on your location, you can download Best Wallet from Google Play or the Apple App Store.

Join the Snorter community on their X and Instagram social channels.

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