Solana-based AI token Ava, known by its ticker AVA, has plunged more than 96% from its peak after new on-chain analysis raised questions about how the token’s supply was distributed at launch and whether insiders coordinated early purchases.
The latest findings come from blockchain analytics firm Bubblemaps, which published an analysis on
Remember $AVA?
40% bundled at launch, linked to the deployer
Your AI girlfriend took all your money
pic.twitter.com/31uMnlglfi
– Bubble Maps (@bubblemaps) December 18, 2025
Wallet clustering points to AVA token sniping at launch
According to Bubblemaps, the wallets were funded shortly before launch, showed no prior on-chain activity, and purchased large amounts of AVA as soon as the token became available.
AVA launched on November 13, 2024 on Pump.fun, a Solana-based memecoin launch platform that promotes fair and decentralized token launches.
The project quickly gained attention as one of the first 3D AI agent tokens, backed by Holoworld AI, a portfolio company of Polychain Capital.
By January 2025, AVA had reached a fully diluted valuation of around $300 million, driven by a surge in interest in AI-themed crypto projects.
Bubblemaps said its analysis identified 23 wallets, including the deployer, that were funded on tight timelines through centralized exchanges such as Binance and Bitget.
The wallets received similar amounts of SOL and then used automated trading strategies to purchase AVA at launch.
The company added that additional wallets connected to this initial cluster followed similar funding and timing models, which it said strongly suggests coordination rather than independent participation.
In crypto markets, this practice is commonly referred to as sniping, where bots are used to purchase new tokens as soon as they become tradable, often securing large allocations before retail participants can react.
While sniping itself is not illegal, a high concentration of supply among early wallets can increase the risk of selloffs if those holders decide to exit.
The company said the analysis shows that despite AVA’s public positioning as a community launch, a single coordinated entity ended up controlling a large share of the supply.
AVA market reality sets in as token loses 96% from all-time high
More than a year after launch, the impact is visible in the token’s market performance.
AVA is down more than 79% from its launch price and more than 96% from its all-time high of around $0.33, reached on January 15, 2025, according to CoinGecko data.
The token is now trading near $0.01, erasing most of its early gains.
This decline has occurred despite continued development by the team behind Holoworld AI. The project describes Ava as the first AI agent virtual image token, designed to power audio-visual AI agents capable of interaction and emotional expression.
Holoworld claims to have created over 10,000 3D virtual characters, partnered with over 25 IP and NFT brands, and attracted over 1 million users.
However, these developments did not prevent a sharp drop in AVA’s market value. AVA has a fixed total supply of 1 billion tokens, with 50 million released at launch through a 5% public sale.
The broader token distribution includes long-term allocations for community incentives, team, private investors, liquidity, and ecosystem development, many of which are subject to vesting schedules.
The episode adds to a growing list of instances in which Bubblemaps reported concentrated token ownership shortly after its launch.
In recent months, the firm has released similar analyzes involving PEPE, the $WET presale on Solana, the MYX Finance airdrop, and other high-profile tokens, often highlighting coordinated portfolio behavior and strong early selling pressure.
While not all cases have resulted in enforcement action or project failure, they have increased scrutiny over allegations of fair launch and internal transparency.
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