How to read a crypto bubble map
A bubble map is the fastest way to see whether a coin's supply is spread across many independent people or sitting with a few connected wallets. Every Whodl coin page links to one. This guide explains how to read it in under a minute, and where people get it wrong.
What each bubble is
Each bubble is one wallet that holds the coin. The size of the bubble is that wallet's share of the supply, so one huge bubble means one wallet holds a large slice. Pools, burn addresses and exchange wallets are excluded, because they are not people deciding whether to hold or sell.
Hovering or tapping a bubble shows the wallet address and its share. The address links to an explorer, so you can check every number yourself.
What the lines mean
A line between two bubbles means Whodl found a measurable connection on chain. There are three kinds:
- Shared funding. Both wallets received their first SOL from the same source wallet. New wallets funded from one place are often set up by one person.
- Direct transfer. Tokens or SOL moved directly from one wallet to the other.
- Same block or same transaction. Both wallets bought in the same block, drawn as a dashed amber line. That is the signature of a bundle: many wallets buying at once through one script. See what a bundled wallet is.
Wallets joined by lines form a cluster. The map shows how much of the supply each cluster holds, and the total linked supply across all of them.
How to read the numbers next to the map
Whodl prints three figures beside the map:
| Figure | What it means | Why it matters |
|---|---|---|
| Linked supply | Share of supply in wallets with at least one link | The part of the float that may be controlled by fewer people than it looks |
| Same-block supply | Share bought in the same block as other top wallets | Supply that most likely came from a bundle at launch |
| Funding traced | How many fresh wallets had their funding source found | How complete the picture is |
A linked supply of 2% is normal noise. A linked supply of 30% means a third of the coin could move together.
What a bubble map does not prove
This is the part most people skip. A link is evidence of a relationship, not proof of one owner. Two wallets funded by the same exchange hot wallet are linked by funding, but exchanges fund millions of wallets. Two wallets that bought in the same block may have been racing the same launch independently.
So read the map as a question, not an answer: if these wallets are one person, what happens to the price when they sell? Whodl models that directly on each coin page ("if they sell, price drops X%"), which turns a scary-looking map into a number you can weigh.
A quick routine
- Look at the largest bubble. Is it a person, a pool, or a known exchange? Whodl labels pools and exchanges and leaves them out of the share.
- Look for the biggest cluster. How much supply does it hold, and did it buy in the same block?
- Check the dev wallet. Is it in a cluster? Has the dev's earlier coins behaved the same way? See how to check a dev's launch record.
- Compare linked supply with the liquidity. Linked supply worth ten times the pool's liquidity can empty it.
Open any coin on the coin reports page to try this on a live map.
How this guide was made: written by Jack Shard with AI assistance, based on the measurements Whodl makes. Last reviewed Oct 19, 2026. Details on the about page.