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Wallet Sizes: Size Distribution of Holders

Understanding the Size Distribution of Holders

Jonathan Blackburn avatar
Written by Jonathan Blackburn
Updated this week

We classify holders into seven categories based on their percentage of the total token supply:

🐳 Whale: Holds β‰₯5% of the total supply

🦈 Shark: Holds 1–5% of the total supply

🐬 Dolphin: Holds 0.1–1% of the total supply

🐟 Fish: Holds 0.01–0.1% of the total supply

πŸ™ Octopus: Holds 0.001–0.01% of the total supply

πŸ¦€ Crab: Holds 0.0001–0.001% of the total supply

🦐 Shrimp: Holds <0.0001% of the total supply

What the Size Distribution Means

The size distribution shows how many wallets fall into each category and their percentage of the total holder base. For example:

Image

What to Look For

  • Ideally, no whales: A small number of whales or dolphins might indicate large players entering early, which could affect token distribution.

  • Lots of fish or smaller: A healthy project often has many smaller holders (like fish, octopuses, crabs, or shrimp), showing broader retail interest and a more decentralized holder base.

Why This Matters

Understanding the distribution of holders helps you gauge the decentralization and potential risks of a project. A project dominated by whales may be more centralized, while one with many smaller holders suggests wider community participation. A healthy token distribution typically shows:

  • Few or no whales: Reduces risk of price manipulation

  • Some sharks & dolphins: Can indicate institutional or early investor interest

  • Many fish, octopus, crabs, and shrimps: Indicates healthy retail participation and community interest

An ideal distribution has a wide base of smaller holders (shrimps, crabs) and a limited concentration at the top, resulting in a more decentralized and robust token economy.

Using Wallet Size Distribution for Analysis​

Wallet Size Distribution stats provide valuable insights for:

  1. Token Health Assessment: Evaluate the decentralization and distribution of a token

  2. Growth Analysis: Track holder growth over time (5min to 30d periods)

  3. Acquisition Pattern Analysis: Understand how users are primarily acquiring the token

  4. Whale Watching: Monitor large holder concentration and potential selling pressure

  5. Community Growth: Assess retail interest through smaller holder categories

By analyzing holder statistics, you can gain a better understanding of a token's market dynamics, community health, and potential risks related to centralization.

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