TL;DR
Sniping is the practice of being the first to buy a newly launched token, typically using automated bots that detect and purchase tokens within milliseconds of creation.
Sniper bots monitor the Solana blockchain for specific events: new Pump.fun token creation, Raydium pool initialization, or PumpSwap migrations. When detected, the bot instantly submits a buy transaction (often via Jito bundle for guaranteed inclusion). The goal is to buy at the absolute lowest price — before any other buyer — and sell into the subsequent demand at a profit.
Launch sniping: buying new Pump.fun tokens at creation (highest risk/reward, most tokens fail). Graduation sniping: buying when a token graduates to Raydium/PumpSwap (lower risk, the token has proven demand). Listing sniping: buying when a token gets listed on a new DEX or CEX. Each type has different speed requirements, competition levels, and expected returns.
Most sniped tokens go to zero — even the fastest snipe loses money if the token never gets traction. Competition is fierce; professional snipers use custom infrastructure and pay high Jito tips. You’re often buying alongside the deployer’s own bundled wallets. Anti-sniper mechanisms (like delayed trading or max buy limits) can trap sniper capital. Smart sniping combines speed with deployer analysis — only sniping tokens from proven deployers.