Reading the holder chart

Every terminal shows a list of the largest holders. It is the fastest way to see who can dump on you.

What to read first

1. Top 10 share. Excluding the bonding curve or the liquidity pool, what percent do the top 10 wallets hold? Under 20% is usually healthy for a young coin. Over 40% means a few people control the chart.
2. The dev wallet. Terminals tag it. Did the dev buy? Did they already sell? "Dev sold" is not always fatal, but you want to know.
3. Fresh wallets. Wallets created minutes ago and funded with exactly enough SOL to buy are often one person split across many addresses.

Remove the pool before you judge

On the bonding curve, the curve itself shows up as the largest "holder". After bonding, the liquidity pool does. Neither is a person. Ignore that row when you add up the top 10.

Three patterns that mean walk away

• Same-size buys at launch. Five wallets that each bought 3.1% in the same block are not five people.
• Same funding source. Click a few top holders. If they were all funded from one wallet a few minutes before launch, that is a bundle.
• A whale that keeps adding while the price is flat. Sometimes it is conviction. Often it is someone accumulating to dump on the first pump.

Tools

Most terminals now flag bundles, snipers and insiders directly in the holders tab. Bubble-map tools draw lines between wallets that sent funds to each other. Use both: the flags are fast, the maps show you why.