The Solana meme coin market is experiencing significant activity, particularly with the emergence of the r/snoofi meme coin. This coin has seen a dramatic increase, jumping 350% to a market capitalization of $12 million. It reached a high of $20 million before settling at a current market cap of $14 million. The r/snoofi coin operates primarily through Reddit, boasting 1.7K subreddit members, without utilizing other social media platforms like Telegram or Twitter. An additional $75k liquidity was added to r/snoofi. In parallel, a new Solana memecoin shorting platform, dumpy.fun, has been introduced, teasing a complementary service called squeezy.lol. This platform aims to facilitate a Gamestop-style short squeeze in the $53 billion memecoin market, allowing users to take opposing positions on meme coin shorts.