Memecoin Holder Distribution: Who Actually Holds These Tokens?
Published by TOSScoin Research
Overview
This report examines on-chain holder concentration for top memecoins by market cap, using CoinGecko leaderboard data combined with Solana RPC and Ethplorer holder data. Understanding token distribution helps assess concentration risk and community health.
Top 20 Memecoins by Market Cap — Initial Snapshot
| Coin | MCap ($) | Chain | Top1 % | Top10 % | Notes |
|---|---|---|---|---|---|
| Dogecoin (DOGE) | 14,328,195,075 | unknown | n/a | n/a | No public holder API in this pass |
| Shiba Inu (SHIB) | 3,226,350,170 | ethereum | 41.04% | 62.84% | OK |
| MemeCore (M) | 2,523,348,327 | binance-smart-chain | n/a | n/a | No public holder API in this pass |
| Pepe (PEPE) | 1,448,549,930 | ethereum | 13.34% | 41.42% | OK |
| Pump.fun (PUMP) | 1,189,037,326 | unknown | n/a | n/a | No public holder API in this pass |
| Official Trump (TRUMP) | 758,245,488 | unknown | n/a | n/a | No public holder API in this pass |
| Bonk (BONK) | 529,907,264 | unknown | n/a | n/a | No public holder API in this pass |
| Pudgy Penguins (PENGU) | 441,498,424 | unknown | n/a | n/a | No public holder API in this pass |
| Siren (SIREN) | 353,240,714 | unknown | n/a | n/a | No public holder API in this pass |
| pippin (PIPPIN) | 352,407,329 | unknown | n/a | n/a | No public holder API in this pass |
| SPX6900 (SPX) | 317,119,828 | unknown | n/a | n/a | No public holder API in this pass |
| FLOKI (FLOKI) | 275,611,018 | unknown | n/a | n/a | No public holder API in this pass |
| Binance-Peg Dogecoin (DOGE) | 239,789,080 | unknown | n/a | n/a | No public holder API in this pass |
| Ape and Pepe (APEPE) | 224,864,018 | unknown | n/a | n/a | No public holder API in this pass |
| BUILDon (B) | 216,971,447 | unknown | n/a | n/a | No public holder API in this pass |
| dogwifhat (WIF) | 208,730,383 | unknown | n/a | n/a | No public holder API in this pass |
| Ribbita by Virtuals (TIBBIR) | 173,869,188 | unknown | n/a | n/a | No public holder API in this pass |
| Fartcoin (FARTCOIN) | 168,916,023 | unknown | n/a | n/a | No public holder API in this pass |
| coco (COCO) | 149,428,625 | unknown | n/a | n/a | No public holder API in this pass |
| Loaded Lions (LION) | 116,393,587 | unknown | n/a | n/a | No public holder API in this pass |
Interpretation Guide
- Top1 > 10%: Very concentrated / potential insider overhang.
- Top10 > 40%: Concentrated; monitor unlocks/linked wallets.
- Lower concentration generally healthier for organic community distribution.
Detailed Solana Token Holder Data
BONK
- Supply: 87,994,760,092,677.53 BONK
- Top 1 wallet: 7.64%
- Top 10 wallets: 40.18%
- Top 20 wallets: 54.63%
- Largest wallet:
5hpfC9VBxVcoW9opCnM2PqR6YWRLBzrBpabJTZnwwNiw
WIF
- Supply: 998,839,325.45 WIF
- Top 1 wallet: 12.17%
- Top 10 wallets: 45.10%
- Top 20 wallets: 56.07%
- Largest wallet:
7XX64f8UKE1nxNCSwncCUj3c2FJYdXHmDV5xd5DRdFky
Comparison: Both BONK and WIF show high top-20 concentration (>50%). WIF top-1 concentration (>12%) is a stronger whale-overhang signal than BONK.
POPCAT
- Supply: 979,937,521.88 POPCAT
- Top 1 wallet: 11.19%
- Top 10 wallets: 41.83%
- Top 20 wallets: 54.38%
- Largest wallet:
2PxZ57bhrRTH5a8zD87mcEyD95hRf65ZVFCVVU2qoCaZ
PENGU
- Supply: 76,721,264,730.06 PENGU
- Top 1 wallet: 11.52%
- Top 10 wallets: 48.66%
- Top 20 wallets: 60.39%
- Largest wallet:
FJhg2bE1PZEedxpqpXZpJKCfF2m9Z6n9MtLSe2zNo4XY
Comparison: Both show whale-heavy distribution (top1 above 11%). PENGU's top20 concentration (60.39%) is materially higher than POPCAT (54.38%), flagging stronger concentration risk.
OFFICIAL TRUMP
- Supply: 999,999,165.91 TRUMP
- Top 1 wallet: 76.75%
- Top 10 wallets: 91.55%
- Top 20 wallets: 94.17%
- Largest wallet:
HkykUVWTctptXZmRTWearMsH4SaQNmE4Ku3tMJe5v2mH
FARTCOIN
- Supply: 999,979,026.75 FARTCOIN
- Top 1 wallet: 9.31%
- Top 10 wallets: 33.99%
- Top 20 wallets: 45.82%
- Largest wallet:
ErJLDKQy1Jna9m1LpbLJEXGiEc6yDFxkBu1mXAEZea5o
Comparison: TRUMP shows extreme concentration (top1 ~76.8%, top20 ~94.2%), indicating dominant insider/treasury-style control. FARTCOIN is still concentrated but materially less top-heavy (top20 < 50%).
MEW
- Supply: 88,885,782,160.60 MEW
- Top 1 wallet: 34.72%
- Top 10 wallets: 71.29%
- Top 20 wallets: 77.78%
- Largest wallet:
2nrDrMP9ZVqsmu5hmaqk3e612YoCmKHCPsm1bMsbvU8E
MOODENG
- Supply: 989,938,600.87 MOODENG
- Top 1 wallet: 10.72%
- Top 10 wallets: 52.53%
- Top 20 wallets: 69.26%
- Largest wallet:
AqxW1kYQT5LjfHQyqxQegs3LF4pA6xvqQTB1iXFkhQEB
Comparison: MEW is highly concentrated (top1 >34%, top20 ~78%). MOODENG is also concentrated (top20 ~69%) with less extreme top1 than MEW.
PONKE
- Supply: 555,535,652.19 PONKE
- Top 1 wallet: 16.67%
- Top 10 wallets: 52.20%
- Top 20 wallets: 61.72%
- Largest wallet:
A3k2NYxUofWxrLP1WBRjE5kQHcahtv8umHj1Psm8d4wZ
PNUT
- Supply: 999,842,537.33 PNUT
- Top 1 wallet: 32.73%
- Top 10 wallets: 68.91%
- Top 20 wallets: 81.57%
- Largest wallet:
2s3DmUkfJUu1F1qPpSVujUg9KndBg12wmzzZvSWpM5xW
Comparison: PNUT is significantly more top-heavy than PONKE (top1 ~32.7% vs ~16.7%). PNUT top20 concentration above 80% suggests higher large-holder overhang risk.
GOAT
- Supply: 999,983,825.24 GOAT
- Top 1 wallet: 13.03%
- Top 10 wallets: 57.43%
- Top 20 wallets: 69.18%
- Largest wallet:
3GVQfer41tLQfpkkDh5vZPKnDKNiXLN5bUXAZxTszxFK
GIGA
- Supply: 9,603,851,561.12 GIGA
- Top 1 wallet: 12.29%
- Top 10 wallets: 30.76%
- Top 20 wallets: 37.78%
- Largest wallet:
CYLfvQGAj1Nrokv3bb4XsoVeQVdPov7zV6HSp67M2NYC
Comparison: GOAT has materially heavier concentration than GIGA. GIGA's distribution appears comparatively flatter (top20 < 40%) — one of the least concentrated large-cap meme profiles tracked.
BOME
- Supply: 68,866,894,191.79 BOME
- Top 1 wallet: 24.40%
- Top 10 wallets: 72.02%
- Top 20 wallets: 81.05%
- Largest wallet:
8ZGi4BZG1F8LYypmqzry6cuwN5wZKt5G6mZ3DLxpuMDQ
SLERF
- Supply: 999,995,761.11 SLERF
- Top 1 wallet: 8.47%
- Top 10 wallets: 37.83%
- Top 20 wallets: 59.54%
- Largest wallet:
As7prr4D8z8moLcfWqAuFvEiKPSbLA7EmnuScdy4hkuT
Comparison: BOME is materially more concentrated than SLERF in every bucket (top1/top10/top20), with top20 above 80%. SLERF is less top-heavy than many peers tracked.
MYRO
- Supply: 999,957,815.09 MYRO
- Top 1 wallet: 10.68%
- Top 10 wallets: 51.88%
- Top 20 wallets: 67.30%
- Largest wallet:
BUvMbqP311JDU4ZGnf1rSZJLjutTU9VpNLEos393TYyW
MANEKI
- Supply: 8,858,514,851.37 MANEKI
- Top 1 wallet: 45.95%
- Top 10 wallets: 76.63%
- Top 20 wallets: 81.27%
- Largest wallet:
5FeTzLNqwrvSzexFujeV62a2v4kmQUrBnCQjJANStMXj
Comparison: MANEKI shows extreme top-holder concentration (top1 ~46%, top20 >81%). MYRO is still concentrated (top20 ~67%) but materially less top-heavy.
CHILLGUY
- Supply: 999,945,875.81 CHILLGUY
- Top 1 wallet: 9.43%
- Top 10 wallets: 52.41%
- Top 20 wallets: 65.37%
- Largest wallet:
XdFkjmEfeqS6qBn9EoTBcAYzcpnFWQRTHTKSisRNXip
MICHI
- Supply: 555,725,417.68 MICHI
- Top 1 wallet: 31.17%
- Top 10 wallets: 54.44%
- Top 20 wallets: 60.29%
- Largest wallet:
5tg9qKYRAXgqxtrvzM77XTKBLQBJppixjqKCXcfhNAE1
Comparison: MICHI has a significantly heavier top-1 concentration profile than CHILLGUY (31.17% vs 9.43%). Both are concentrated in top-20 holdings (>60%), but CHILLGUY appears flatter at the top-holder layer.
WEN
- Supply: 1,525,302,683,998.56 WEN
- Top 1 wallet: 73.19%
- Top 10 wallets: 83.28%
- Top 20 wallets: 87.81%
- Largest wallet:
AL8U7X2Mx5G1NzevN12ERsj14mtifaA34wGm9c2e9rwk
MOTHER
- Supply: 965,349,270.95 MOTHER
- Top 1 wallet: 18.27%
- Top 10 wallets: 43.08%
- Top 20 wallets: 52.60%
- Largest wallet:
8ZcrNqaDbqy1H4R2DtmGnuZnJ6TKGSsaGmyRGQQeELLv
Comparison: WEN shows extreme concentration with top-1 above 70%, indicating dominant treasury/custody-style holder control. MOTHER remains concentrated but materially less top-heavy.
Summary: Concentration Spectrum
| Token | Top1 % | Top20 % | Concentration Level |
|---|---|---|---|
| TRUMP | 76.75 | 94.17 | Extreme |
| WEN | 73.19 | 87.81 | Extreme |
| MANEKI | 45.95 | 81.27 | Very High |
| SHIB | 41.04 | n/a | Very High (top1) |
| MEW | 34.72 | 77.78 | Very High |
| PNUT | 32.73 | 81.57 | Very High |
| MICHI | 31.17 | 60.29 | High |
| BOME | 24.40 | 81.05 | Very High |
| MOTHER | 18.27 | 52.60 | High |
| PONKE | 16.67 | 61.72 | High |
| PEPE | 13.34 | n/a | Moderate (top1) |
| GOAT | 13.03 | 69.18 | High |
| GIGA | 12.29 | 37.78 | Moderate |
| WIF | 12.17 | 56.07 | High |
| PENGU | 11.52 | 60.39 | High |
| POPCAT | 11.19 | 54.38 | High |
| MOODENG | 10.72 | 69.26 | High |
| MYRO | 10.68 | 67.30 | High |
| CHILLGUY | 9.43 | 65.37 | High |
| FARTCOIN | 9.31 | 45.82 | Moderate |
| SLERF | 8.47 | 59.54 | Moderate-High |
| BONK | 7.64 | 54.63 | Moderate-High |
Key Takeaways
- Most memecoins are heavily concentrated. Top-20 wallets holding >50% of supply is the norm, not the exception.
- Extreme cases (TRUMP, WEN, MANEKI) have top-1 wallets holding >40% — these represent significant centralized control risk.
- Relatively flatter distributions (GIGA, FARTCOIN, BONK) are the exception and may indicate healthier community ownership.
- Distribution quality is a useful narrative tool — projects with fairer distributions can differentiate themselves from concentrated peers.
- Monitor large-wallet moves around volatility spikes for concentration-risk signals.
Sources
- Solana JSON-RPC (
getTokenLargestAccounts,getTokenSupply) via Helius mainnet RPC - CoinGecko API for mint resolution
- Birdeye Holder Distribution: https://bds.birdeye.so/blog/detail/token-holder-distribution-deep-insights-into-token-supply-concentration-on-solana
- Birdeye holder endpoints docs: https://docs.birdeye.so/reference/get-defi-v3-token-holder
- SolanaTracker top-holder endpoint docs: https://solanatracker.mintlify.app/data-api/tokens/get-top-20-token-holders
- Holderscan token pages: https://holderscan.com/