Sniping in crypto is described in full under snipers in the crypto world, which covers the tools, tactics and risks involved. This page explains the verb "sniping", which is how the practice is usually mentioned on trading forums and in token launch guides.
To snipe a token is to buy it at the earliest possible moment, usually within the same block in which trading opens, before most people can react. Snipers rely on automated trading bots that watch the blockchain for new liquidity pools or the moment a launch contract enables trading, then submit buy orders with high fees so validators include them first. The aim is to buy at the launch price and sell into the rush of later buyers, often within minutes.
Sniping is common on fast, cheap chains and launch platforms for memecoins. It overlaps with front-running and other forms of maximal extractable value. Projects try to limit snipers with anti-bot rules, such as purchase caps or extra taxes in the first blocks, while some insiders snipe their own launches through hidden wallets, a practice linked to rug pulls.
Snipers themselves face high risk: tokens may be scams, contracts may block selling, and many sniped tokens collapse quickly. The term also has an older meaning in online auctions, where sniping means placing a winning bid in the final seconds.