Ava AI, a Solana-based artificial intelligence token, has crashed 96% from its January peak following blockchain analysis that revealed coordinated wallet activity at launch.
Analytics firm Bubblemaps identified 23 wallets linked to the token deployer that accumulated approximately 40% of the total supply when trading began.
The token now trades around $0.01 with a market capitalization of $10.5 million.
What Happened
Bubblemaps published analysis showing wallets were funded through Binance and Bitget exchanges before the November 13, 2024 launch on Pump.fun.
The wallets received similar Solana amounts and showed no prior blockchain activity.
Each executed automated purchases when AVA became tradable.
AVA reached an all-time high of $0.33 on January 15, 2025 with a fully diluted valuation near $300 million.
The token was marketed as the first 3D AI agent token from Holoworld AI, which raised $6.5 million from Polychain Capital.
Pump.fun promotes itself as a platform for fair token launches.
The practice known as sniping allows automated bots to secure large allocations before retail participants can trade.
Why It Matters
Concentrated supply among early wallets creates risk of coordinated sell-offs if holders exit positions.
The 96% decline occurred despite continued development by the Holoworld AI team.
AVA maintains a fixed supply of 1 billion tokens with 50 million released at launch.
Remaining supply is allocated to community incentives, team holdings, private investors, and ecosystem development with vesting schedules.
Bubblemaps has identified similar patterns in recent months involving PEPE, the WET presale, and MYX Finance's airdrop.
The analysis questions fair-launch claims when single entities control significant supply portions from inception.
Token holders can appear distributed on blockchain explorers while remaining centralized through Sybil wallets controlled by one entity.
