PENGU Skyrockets 80% as Solana Meme Coins Explode—Snorter ICO Nabs $1.2M in Frenzy

Solana's meme coin circus has a new ringleader—PENGU just mooned 80% in a single day, dragging the rest of the SOL meme pack into bullish territory.

Meanwhile, Snorter's ICO proves crypto 'utility' is overrated—the anonymous team just vacuumed up $1.2M from degens chasing the next dumb-but-profitable meme.

When the SEC starts regulating cartoon avatars, we'll know the bubble's officially popped.

PENGU Price Rallies as Bullish Catalysts Combine

PENGU has had a great week, now trading around the $0.015 level.

That makes it the top-performing major meme coin at the moment.

In the last day alone, it jumped another 13%, leaving other Solana meme coins like dogwifhat in the dust on both price and trading volume.

A few factors are driving up demand for this penguin-themed token.

First, a surprise ETF filing popped up from Cboe for a “Canary PENGU ETF.”

If approved, this fund WOULD hold PENGU tokens and Pudgy Penguins NFTs, which is a huge sign of potential institutional interest.

Plus, on-chain data shows that big money is moving in.

Nansen reported that whale wallets boosted their PENGU holdings by over 11% this past month, and that includes one enormous buy of $2.4 million.

For the technical traders, PENGU also broke out of a falling wedge pattern on Friday and is now trading above its 50-day EMA.

Meme Coin Market Rebounds After Last Week’s Sell-Off

But it’s not just a one-coin show.

All the bullishness around Pengu is lifting the entire meme sector, both on Solana and Ethereum.

The total market cap for meme coins has climbed back above $54 billion, and daily spot trading volumes have increased by 32% since yesterday.

Popular coins like Pepe and SPX jumped 3%, and Dogwifhat added 6% to its value.

This Optimism seems tied to the broader market finding its footing again.

Bitcoin pushed past $107,000 yesterday, partly due to some unexpected news from the WHITE House.

An order for Fannie Mae and Freddie Mac to look into crypto-based federal housing loans is seen as a huge deal.

It could potentially plug crypto into a $7 trillion system – and that kind of headline has a way of boosting sentiment.

That’s helped the Crypto Fear & Greed Index finally get back into “Greed” territory.

Snorter Capitalizes on the Meme Coin Momentum as ICO Demand Ramps Up

With all this activity, smaller Solana-based meme coin projects, such as Snorter, are seeing an uptick in demand.

Snorter has now raised over $1.2 million in its ICO, with SNORT tokens currently available for just $0.0967 each.

Most of the HYPE is because it’s pairing degen fun with an actual product.

Snorter’s team is building a trading bot inside Telegram designed to give meme coin traders an edge.

Th bot uses Solana’s speed for near-instant trades, automated sniping of new token launches, copy trading, and even scam detection.

With the crypto bot market already worth $41 billion, it’s a clever move.

Holders of the SNORT token get perks like lower fees, staking rewards estimated at 244% per year, and a say in the project’s future.

With big influencers like Crypto Gains already backing it, it’s easy to see why ICO momentum is building.

Snorter has even been featured on popular ranking sites like CoinSniper.

And none of this early hype comes at the expense of security, since Coinsult and SolidProof have audited the SNORT token, finding no vulnerabilities.

So, while PENGU might be the hottest topic right now, many traders believe Snorter will be the next meme coin to take off.

Visit Snorter ICO