1. Top Holders
01Definition
Top holders are the wallets owning the largest portions of token supply.
02Why it matters
A small number of wallets may control enough supply to overwhelm liquidity.
03What to check
- Top 10 holder percentage
- Top 20 holder percentage
- LP, burn, exchange, and system wallets
- Changes in concentration over time
04Healthy / Dangerous
Healthy
Separate pool, burn, exchange, and ordinary owner addresses.
Dangerous
Sellable supply is concentrated across a few related wallets.
05Beginner mistake
Counting LP or burn wallets as ordinary holders.
06Takeaway
Know who actually controls sellable supply.
Check reported top-10 concentration when the provider supplies it. Research wallet roles and related addresses externally.
2. Dev / Creator Wallet
01Definition
The creator wallet is associated with the person or group that launched the token.
02Why it matters
The creator may own cheap inventory or control related wallets.
03What to check
- Initial creator allocation
- Current holdings
- Transfers to other wallets
- Previous selling
- Related wallets
04Healthy / Dangerous
Healthy
Creator allocations and subsequent transfers are accounted for.
Dangerous
The visible creator balance falls while related wallets receive inventory.
05Beginner mistake
Checking only the visible creator wallet.
06Takeaway
Follow where the creator's tokens went.
3. Insiders
01Definition
Insiders are wallets or people that may have early information, privileged access, or direct links to the launch.
02Why it matters
They may enter before the wider market understands the token.
03What to check
- Entry timing
- Funding links
- Similar trade behavior
- Connections to creator wallets
- Selling around announcements
04Healthy / Dangerous
Healthy
Multiple independent pieces of evidence support a suspected relationship.
Dangerous
Connected early wallets sell together around promotional events.
05Beginner mistake
Calling every successful early buyer an insider.
06Takeaway
Early success is a clue; wallet relationships provide stronger evidence.
4. Bundles
01Definition
A bundle is a group of wallets that may actually belong to or coordinate with the same actor.
02Why it matters
Many wallets can create the appearance of broad ownership while control remains concentrated.
03What to check
- Bundle percentage
- Common funding
- Entry timing
- Similar transaction size
- Transfers between wallets
04Healthy / Dangerous
Healthy
Distinguish transaction bundling from inferred common wallet ownership.
Dangerous
A suspected cluster controls substantial cheap inventory and begins selling.
05Beginner mistake
Treating every holder as independent.
06Takeaway
One operator can look like many holders.
5. Bundle Push
01Definition
A bundle push happens when coordinated wallets buy aggressively and rapidly push price upward.
02Why it matters
The move can look like broad organic demand even when a small group created most of the pressure.
03What to check
- Which wallets created the move
- Whether those wallets are linked
- Supply accumulated during the push
- Whether independent buyers followed
- Whether the bundle began selling afterward
04Healthy / Dangerous
Healthy
Bundle accumulation → push → organic takeover → broader ownership.
Dangerous
Bundle accumulation → push → retail chase → bundle distribution.
05Beginner mistake
Treating coordinated buying as proof that independent demand has taken over.
06Takeaway
After the push, ask who is buying next.
6. Wallet Clusters
01Definition
A wallet cluster is a group of addresses that may belong to one actor based on funding, transfers, timing, or behavior.
02Why it matters
Clustering can reveal hidden concentration.
03What to check
- Shared funding source
- Repeated transfers
- Similar timing
- Similar order size
- Shared destination wallets
04Healthy / Dangerous
Healthy
Funding, transfers, timing, and behavior support a qualified hypothesis.
Dangerous
One shared exchange withdrawal or similar trade is treated as identity proof.
05Beginner mistake
Treating one matching behavior as proof of common ownership.
06Takeaway
Clustering is strongest when several links point to the same conclusion.
7. Wallet Funding
01Definition
Wallet funding shows where a wallet received the capital used to trade.
02Why it matters
Multiple wallets funded from the same source may be related.
03What to check
- Funding wallet
- Timing
- Amount
- Whether funds were split across several wallets
- Whether the same source repeatedly funds new accounts
04Healthy / Dangerous
Healthy
Trace multiple hops and distinguish shared services from shared control.
Dangerous
Repeated fund splitting and linked transfers obscure one actor's inventory.
05Beginner mistake
Stopping at the first funding transaction.
06Takeaway
Follow the money backward before judging wallet independence.
8. Smart Money / KOL Wallets
01Definition
These are wallets tracked because they belong to known traders, influential accounts, or historically profitable participants.
02Why it matters
Their activity can reveal attention shifts, but following them blindly is dangerous.
03What to check
- Actual entry price
- Current position size
- Previous win/loss history
- Whether they are adding or reducing
- Whether you are already late
04Healthy / Dangerous
Healthy
Wallet attribution, complete history, and remaining exposure are checked.
Dangerous
A reputation label substitutes for evidence or encourages copying a late entry.
05Beginner mistake
Copying the wallet after most of the move has already happened.
06Takeaway
A good trader's position is information, not an instruction.
Level 3 Checklist
Ask:
- Who owns the supply?
- Which wallets are truly independent?
- Are creator or insider-linked wallets still holding?
- How much supply belongs to clusters?
- Did bundled wallets create the current move?
- Are influential wallets entering early or already distributing?