A sniper wallet buys a token in the first seconds, or even the first block, after it launches. It is almost always run by a bot. Snipers aim to pick up supply at the lowest prices and sell it once other traders arrive.
Why it matters
Heavy sniping means much of the cheap supply is already held by wallets that plan to sell quickly, often into the first wave of ordinary buyers. Researchers have found coordinated "sniper rings" that control early trading. On some launches, nobody outside the ring bought at all in the first 30 minutes.
Snipers on first-come, first-served chains
On chains where transactions are ordered by the time they arrive rather than by the fee paid, snipers can't simply outbid everyone on gas. They compete instead on getting their transactions to the sequencer first. See first-come, first-served sequencing.
What to check
- The share of supply bought in the first block or minute.
- Whether those early buyers are still holding or have already sold.
- Whether early buyers are linked to each other or to the deployer.
Educational content only. Not financial advice.