Top 10 share, done properly
"Top 10 hold 40%" means nothing until you take out the pools, the bonding curve, lockers and burn addresses. Trenchie counts people only: off-curve addresses (programs, pools) are excluded, the same way pump.fun counts holders.
The shape gives a farm away
Real buying makes a power law: the biggest holder holds several times to dozens of times what the 50th does. When one team spreads supply over many wallets, the curve goes flat. We calibrated this on 40 live coins: organic coins' biggest holder held 5 to 19 times the 50th; farmed coins 1.0 to 1.2 times. Another tell is a band of 25 or more wallets each holding the same amount, within 3%.
Brand-new wallets
Trenchie checks the age of the top 50 holders' wallets. Half or more under three days old (with under 20 transactions) is a red; on one farmed runner it was 42 of 50, while organic coins we checked had 1 to 7.
Bubble maps
A bubble map draws the holders as circles and connects wallets that funded or sent tokens to each other. Trenchie's groups them into the dev, the launch bundle, linked groups, same-size wallets and early buyers, and keeps the balances live: when a cluster wallet trades, the map moves.
Holder trend
Holders rising 12% in six hours is good, unless it's fresh or farmed wallets driving it. Trenchie only gives the green when the new holders look real, and gives a caution when holders fall 10% or more.
Top holders selling
Trenchie also tracks what the top 10 people of a day ago hold now. If they've cut their holdings by 60% while the price held up, they're distributing into buyers: that's a red.
Questions people ask
What is a good top 10 holder percentage?
There's no single line. In our record a high top-10 share on its own rugged at about the base rate, so Trenchie treats it as a caution and leans on the holder shape, fresh wallets and linked groups instead.
What is a bubble map in crypto?
A picture of a token's holders where each circle is a wallet sized by its holding, with lines between wallets that are connected by transfers. Groups of linked wallets often belong to one person.