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- 🔵 #Altcoin Season Index Hits 24#
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What’s your take—will they increase thei - 🔵 #Can BTC Break $110K?#
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How Sniper memecoins on Solana at Pump.fun manipulate the market
According to new research from Pine Analytics, token issuers on Pump.fun have been funding "sniper" wallets ( to acquire their own meme coin. This has affected over 15,000 token issuances on this platform.
Sniper wallets primarily operate during U.S. trading hours, implementing standardized and highly profitable strategies. The activities of unrelated bots obscure the behavior of these wallets, making it extremely difficult to distinguish them — and they can easily adapt to countermeasures.
Free Sniper Operates on Pump.fun
Despite ongoing controversies and criticisms, Pump.fun remains one of the most popular platforms for meme coin issuance on Solana.
However, a new report from Pine Analytics has uncovered a new controversy, revealing systematic market manipulation behavior on this platform. Sniper actions account for up to 1.75% of total issuance activities on Pump.fun.
"Our analysis shows that this strategy is neither rare nor fringe, but in fact, there have been over 15,000 SOL in realized profits through this method in the past month, spread across more than 15,000 issuances with over 4,600 sniper wallets and more than 10,400 issuers. These wallets demonstrate an unusually high success rate of )87% of profitable sniper trades(, clean exits, and a clearly structured operating model," the report stated.
The issuers of meme coins on Solana at Pump.fun follow a consistent model. They fund one or more sniper wallets and notify these wallets in advance about upcoming token issuances.
These wallets will purchase tokens right in the first block and then sell immediately — 85% within five minutes and 90% in one or two swap transactions.
![])https://img.gateio.im/social/moments-dbccdb5523fa01cc986f08c4e87a144c(Image: Profits from Pump.Fun Sniper Wallet. Source: X/Pine AnalyticsMeme coin developers on Pump.fun exploit this strategy to create an immediate appearance of demand for their tokens. Retail investors, unaware of the previous sale, often acquire tokens after the sniper has executed, giving an unfair advantage to the developers. This constitutes market manipulation and undermines trust in the platform.
Pine Analytics had to adjust their methods to identify the actual snipers. According to them, 50% of the meme coin issuances on Pump.fun involve snipers, but the majority of those may be bots using the "spray and pray" method ) spray and hope (.
However, by filtering out the snipers that do not have a direct connection to the developer's wallet, the company has missed projects that have concealed their traces through proxies and burners.
In other words, the meme coin community lacks sufficient safeguards against systemic abuse on Pump.fun. There are some ways for the platform to flag repeat offenders and suspicious projects, but the countermeasures can easily be defeated. This issue requires persistent and proactive action.
Unfortunately, the implementation of such policies may face difficulties. The sniper of meme coins has become so systematic that Pump.fun can only counter it with a real commitment.
Analysts believe that building an on-chain culture that encourages transparency rather than resource exploitation is the best long-term solution. Such a change would be a real shock and could render the meme coin industry unable to survive through it.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do thorough research before making any decisions. We are not responsible for your investment decisions.
Thach Sanh