- Solana network data shows coordinated sniping activity, with wallets linked to AVA’s deployer acquiring nearly 40% of the token supply at launch.
- These wallets were funded in a narrow time window from Bitget and Binance, with similar SOL amounts and no previous activity, typical signs of coordinated “sniping.”
- Sniping in crypto refers to bots that automatically buy newly deployed tokens before most traders can act.
A Solana-based AI token named AVA found itself at the center of a controversy when blockchain analytics company Bubblemaps revealed the following: a series of wallets traced back to the token’s owner had sniped around 40 % of AVA’s initial token supply upon its release, arguably affecting a fair distribution process.
Sniping at Launch: What Happened?
Data provided by Bubblemaps shows that 23 accounts were seeded right before the launch of AVA in November 2024 with the same amount of Solana (SOL) money from large trading platforms such as Bitget and Binance. The accounts were completely inactive and purchased a large number of AVA tokens once the tokens were in the market.
But this is only half the story, goes the argument, because there is also the possibility that this new supply of tokens gets “sniped” by robots designed to purchase these tokens the instant they appear on the market, potentially before the rest of the market can even process the news of this new supply of tokens. The mechanism is referred to as “sniping” within crypto jargon.
“The similarity of funding sources, amounts, time, and lack of previous activity,” said Bubblemaps, “strongly indicate a joint action rather than a group of independent investors.”
Also Read: Solana Price Prediction: SOL Targets $500 as Tokenized Markets Expand
AVA’s Performance and Tokenomics
AVA, launched through a memecoin platform called Pump.fun, started gaining popularity as a utility token powered by AI, which was associated with the Solana blockchain and Holoworld AI. It saw a fully diluted valuation of around $300 million as of January 2025.
Despite the surge, the price of AVA has crashed and is still over 96% below its highest market value at $0.33. A high concentration of a large number of tokens in the hands of a few wallets can also serve as a warning sign for investors because it can facilitate a rug pull or any manipulative act related to the dump by the key holders.
Cryptocurrency Launch Risks & Market Dynamics
Sniping and joint operations are not a monopoly for AVA. Indeed, on-the-fly bots looking for new token contracts that immediately buy heavily impact token distributions. These kinds of operations may lead to a distorted signal flow for new token prices and liquidity. It is hard for ordinary traders to have a fair start with this. There is a solution for wallet identification: Bubblemaps.
On the other hand, meme tokens or themed tokens also tend to attract speculative elements, thus propagating volatility. Investors must exercise caution and look at on-chain distribution metrics before committing funds to new token offerings.
Also Read: Solana Leads 2025 Blockchain Mindshare with 26.79%, Sui and BNB Chain Rise
