With most crypto sectors deep in the red this week, panic selling and ongoing uncertainty continue to plague the market. However, several meme coins are defying the broader downturn, with MemeCore (M) displaying exceptional resilience.

Growing by 195% over the past seven days, MemeCore continues to attract attention with its meme coin-oriented Layer 1 blockchain. Boasting 35x gains since its inception in July, the project appears ready to continue surging amid the speculative frenzy. Nonetheless, the rapid pace of its surge to a $1.4 billion market cap does leave room for a sharp pullback over the upcoming weeks – and analysts are pointing to the Snorter (SNORT) presale as an even better choice for optimal gains.

Let’s take a closer look at MemeCore, and find out if it’s really the strongest candidate for a 100x move in this cycle.

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MemeCore Becomes the Seventh-Largest Meme Coin Following Today’s Gains

MemeCore’s unique combination of blockchain innovation and focus on internet culture has helped it carve its own spot in the market. As a Layer 1 blockchain, it offers an independent network built with speed and scalability in mind.

Its goal is to create a foundation for “Meme 2.0” tokens, which could discourage the pump-and-dump trend present in the current market. To achieve that, it offers rewards based on engagement and tracks metrics like token virality, incentivizing long-term participation in projects.

This approach helped M garner immediate attention and soar from $0.039 to $0.77 just days after launch. Although it spent most of July and August consolidating, the strong momentum it formed over the last week saw it explode.

A decisive breakout from MemeCore’s 50-day Simple Moving Average (SMA) level of $0.44 on August 29th marked the start of its recent rally. Forming higher lows throughout the week, MemeCore spiked to $1.40 today, which is its new all-time high (ATH).

Over the past 24 hours alone, MemeCore’s price grew by 26%, which saw the token flip SPX6900 (SPX) to become the seventh-largest meme coin by market cap.

The main catalysts behind MemeCore’s price surge are increasing whale investments and the project’s liquidity event, MemeX. Over the past 30 days, whales bought nearly 52 million M tokens, which kept its price afloat even during the market’s rough patches in August.

Plus, the project’s MemeX event rewarded traders and liquidity providers, injecting around $5.7 million into the token’s ecosystem. This led to a jump in retail interest, forcing those shorting the token to cover their positions as M surged.

While buyers continue to fuel MemeCore’s upward momentum, the token’s technical indicators suggest a cautious approach. Its daily Relative Strength Index (RSI) has climbed to 89, underscoring that the token is now in overbought territory.

Additionally, its long/short ratio, which stood at 1.4 before the late August pump, has dipped to 0.53. That means two in three traders are now shorting M in anticipation of a pullback.

With MemeCore’s technical outlook suggesting a reversal, investors seeking the next 100x are eyeing early-stage meme coin projects. Among them, Snorter (SNORT), a project with untapped potential that’s also introducing a trader-focused solution, is attracting growing attention.

Snorter’s Utility and Early Momentum Suggest It Could Be the Next 100X Meme Coin

MemeCore has experienced an impressive run, but its billion-dollar-plus market cap leaves little room for large gains. Meanwhile, Solana’s improving on-chain metrics are shifting attention back to its vibrant meme coin ecosystem. Now, Snorter (SNORT), a Solana meme coin still in its presale stage, seems ready to capitalize on the expected shift in dynamics.

That’s because Snorter aims to empower its backers by providing them with access to a cutting-edge Solana trading bot. Operating entirely via Telegram, Snorter Bot will offer numerous trading automation tools from day one – including dynamic stop-losses, cascading exits, and even copy trading. That means users will be able to place trades and secure profits without even looking at the charts.

Additionally, the trading bot provides automated token sniping, available to all SNORT holders with no limits. With this feature, Snorter Bot’s users will be able to add freshly released meme coins to their portfolios as soon as they gain liquidity.

Borch Crypto, a presale expert, recently highlighted Snorter Bot’s competitive fees, which are slashed to 0.85% for those holding SNORT.

Pointing out that SNORT already boasts $3.7 million raised, Borch Crypto believes the continuation of its early momentum could result in 100x gains. However, those looking to capitalize on this potential have little time to act, as SNORT’s per-token price (currently $0.1033) is scheduled to rise tomorrow.