Why top holder percentages change after a supply update

A top holder’s percentage can fall after a supply update even if that wallet’s token balance stays the same. The percentage compares a wallet’s balance with a supply figure, so a change to that figure changes the result.

For example, if a wallet holds 10 million tokens out of a 100 million total, its share is 10%. If the total supply rises to 200 million and the wallet balance stays put, its share becomes 5%. The wallet did not sell. The denominator—the number the balance is divided by—grew.

A holder table shows ownership, while a pair chart shows price. For that second view, this guide to using PooCoin Multi Chart to watch several pairs explains how to keep several markets in view.

What does a top holder percentage measure?

It measures one wallet’s balance as a share of the supply figure used by the site. The basic calculation is balance divided by supply, multiplied by 100. A ranked list puts the largest balances first, but the percentage beside each balance depends on the chosen supply measure.

That measure may be total supply, which counts tokens created minus tokens destroyed, or circulating supply, which aims to count tokens available in the market. Sites may use different figures or update them at different times. Check the page’s definition before comparing percentages across sites or dates.

Why can the percentage change after a supply update?

A mint adds tokens and can lower existing holders’ shares if their balances do not change. A burn removes tokens and can raise those shares. Some tokens also change balances through rebasing, a mechanism that adjusts token amounts in wallets. In that case, both balances and supply may move.

A transfer between wallets usually changes who holds tokens, but not the total supply. So if the supply figure changes around the same time as a transfer, treat those as separate events. The update may also take time to appear in a holder table, leaving its balances and percentages briefly out of step.

How can you tell whether ownership really shifted?

Compare balances as well as percentages, and check what happened to the supply figure. Then look at the wallets near the top of the list. A large address may belong to a liquidity pool, exchange, bridge or project treasury. Those labels describe where tokens sit; they do not prove who controls them or how many people share access.

• Record the wallet balance and percentage before and after the update.
• Check whether total or circulating supply changed, and by how much.
• Look for mint, burn or transfer activity around the update.
• Check whether a major address is a pool, exchange or other contract.

If balances stay steady while percentages fall and supply rises, concentration by address has decreased on paper. That does not show that more people own the token. One holder could still control many wallets, and a labeled contract may hold tokens for many users. Use the percentage as a starting point, then read the balances and the supply change together.