What Is Meme Coin Sniping?

Meme coin sniping is a fast-paced, high-stakes tactic increasingly used during new token launches in the cryptocurrency world—especially within the meme coin space. It typically involves using bots or privileged access to purchase large amounts of a token within seconds (or milliseconds) of it going live—before most retail users have a chance to participate.

These early entries can yield enormous profits if the token gains traction, especially when promoted by influencers or bolstered by social media hype. However, when the majority of supply is quietly accumulated by a handful of wallets and then sold off into retail-driven euphoria, the result is often a rapid collapse in price—a so-called “rug pull.”

In legitimate launches, sniping might be a competitive but open-field race. But in cases where insiders allegedly design the tokenomics, orchestrate the hype, and execute the sniping themselves, the tactic becomes more controversial. This article examines recent high-profile meme coin launches where such practices were reported—particularly those connected to the on-chain identity associated with a developer named Hayden Davis.

We’ll look at what on-chain analysts like Bubblemaps and Pixonchain uncovered, what was said publicly—including in a video by Coffeezilla—and why meme coin sniping is increasingly a focus of crypto oversight and investor education.

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The Rise of Meme Coins and the Temptation of the Snipe

Meme coins like Dogecoin, Shiba Inu, and Pepe have shown that hype alone can drive substantial market caps. But this same energy creates a fertile ground for opportunists. With thousands of meme coins launching each month—many without whitepapers, roadmaps, or products—the appeal of launching, sniping, and exiting a project within days is high.

Snipers often use tools like blockchain scanners and automated bots to monitor liquidity pool creation. The moment a token pair is initialized—usually on decentralized exchanges like Uniswap or Raydium—these bots execute lightning-fast buys, sometimes even front-running other traders.

This method is legal in most jurisdictions, but when paired with insider access—like being the contract deployer or having foreknowledge of when a token will launch—the practice starts to look more like manipulation than speculation.

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The Alleged Case of Hayden Davis

One developer name that repeatedly surfaced in investigations by Pixonchain and Bubblemaps is Hayden Davis. According to these analytics platforms, Davis is connected through wallet clusters and transaction patterns to multiple meme coin launches that followed a similar sniping-to-dumping pattern.

It’s important to note: Davis has not been charged with a crime, and much of the evidence is on-chain speculation supported by analytical tools. However, his own public admissions and the repeated similarities between launches have fueled widespread discussion about his alleged role in a new generation of meme coin exploitation.

Let’s examine the cases most frequently cited.

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$LIBRA: A $110 Million Exit

In early 2024, $LIBRA took the crypto world by storm. Riding on hype around Argentine President Javier Milei—who publicly praised the libertarian ideas often associated with crypto—$LIBRA surged to a $4 billion market cap. Social media buzz, nationalist sentiment, and the allure of decentralization drove retail participation.

But within weeks, $LIBRA collapsed. According to Pixonchain, over $110 million was drained from the ecosystem. Analysts noticed that a group of wallets had executed massive purchases right as the token launched—sniping large amounts before the broader public could.

These wallets were traced back through a central identity: wallet address 0xcEAe, which was linked via funding patterns and CCTP (Circle’s cross-chain USDC protocol) usage to Hayden Davis. Funds from these wallets were later routed through protocols like Kamino Finance and Drift, where they were staked for yield.

Davis would later appear in a Coffeezilla interview, where he acknowledged involvement in $LIBRA but framed it as a misunderstood trading strategy rather than malicious behavior.

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$WOLF: Reddit Hype and Wallet Traces

Soon after LIBRA, another coin—$WOLF—was launched, allegedly tapping into nostalgia for The Wolf of Wall Street and community excitement from WallStreetBets. With memes circulating and social influencers promoting the token, $WOLF quickly reached a $40 million market cap.

Once again, it crashed. And once again, Bubblemaps found a familiar pattern.

In a Twitter thread published in April 2025, Bubblemaps outlined 17 sniper wallets across two chains that were involved in the WOLF launch. These wallets shared funding sources via Circle CCTP, and most had transactional links to the same identity cluster as 0xcEAe. While not definitive proof of Davis' authorship, the overlap strongly suggested involvement from the same group or individual.

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$FRIES: A Smaller Operation, Same Playbook

In the case of $FRIES, the pattern played out on a smaller scale. The token launched with modest fanfare, briefly reached a $1.7 million market cap, and then plummeted to under $50,000.

Bubblemaps reported that sniper wallets again funded themselves using USDC transferred via CCTP, and funneled profits back into the same known addresses tied to prior launches.

What set FRIES apart was how open the operation appeared to be. By this point, Davis had already made public comments about his involvement in meme coin launches, including on X (formerly Twitter), where he often joked about past rugs and the nature of risk in DeFi.

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Davis’ Interview With Coffeezilla

In a rare move, Davis agreed to speak with Coffeezilla, the popular crypto investigator. In the video, Davis discussed his role in $LIBRA, claiming he “just launched a meme coin,” and did not deny profiting from the launch. While some expected an apology or refund plan, Davis instead doubled down, describing his actions as “how crypto works.”

He did not directly admit to orchestrating WOLF or FRIES, but refused to distance himself from the wallets involved. The interview sparked backlash and further interest in understanding meme coin sniping’s mechanics and ethical gray areas.

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Other Tokens Linked On-Chain

Bubblemaps and Pixonchain have linked Davis-related wallets to additional token launches:

• $MELANIA — A politically themed meme coin allegedly launched during Melania Trump-related rumors.
• $HOOD, $TRUST, and $VIBES — Meme coins with brief lifespans, wallet overlaps, and similar funding behavior.
• $HARAMBE and $LEO — Also reportedly tied to the same wallet group via Circle CCTP patterns.

In each case, the formula appears to repeat: launch, snipe, promote, dump.

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Why It Matters: The Education Behind the Scandal

While the Davis alleged case is sensational, it reveals a deeper structural issue in meme coin markets. Retail traders—especially newer ones—often chase pumps without understanding how launch dynamics can be exploited. The combination of zero oversight, instant liquidity, and anonymity allows for rapid wealth transfers from many to a few.

It’s also a cautionary tale about the power of on-chain analysis. Without Bubblemaps’ and Pixonchain’s tools, these wallet patterns would remain invisible to the public. Their work offers transparency in an otherwise opaque ecosystem.

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Is Meme Coin Sniping over?

Meme coin sniping isn’t going away anytime soon. As long as new tokens launch daily and communities rally around speculative assets, actors will continue to find ways to exploit early access and liquidity dynamics. What’s changing is the level of scrutiny.

Hayden Davis, whether seen as a symptom or a symbol of meme coin excess, has become a lightning rod in that conversation. The evidence presented by Bubblemaps, Pixonchain, and Coffeezilla paints a picture of repeated patterns that are worth understanding—not just to avoid losses, but to better grasp how the Defi Space really works.

Whether you view him as a rogue trader, savvy developer, or something else entirely, Davis’ story reminds us: in crypto, speed is power—and transparency is your only defense.

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