PumpCrateDocsMakers vs holders
Two numbers on every Pump.fun token look similar and behave very differently. Makers count wallets that traded. Holders count wallets that hold the token right now.
Definitions#
| Makers | Holders | |
|---|---|---|
| Counts | Distinct wallets that have traded the token in a period | Wallets with a token balance above zero right now |
| One wallet trading 10 times | 1 maker | 1 holder while it holds |
| Ten wallets trading once each | 10 makers | Up to 10 holders |
| After a wallet sells everything | Still counted as a maker for that period | No longer a holder |
What a session does to each#
Every session wallet that buys appears as a maker in the trade history. While it holds the token, it is also a holder. When it sells, it stays a maker, because it did trade, but it stops being a holder.
So during a session, both numbers go up. Afterwards, as session wallets sell, the holder count moves back down while the maker count for that period stays. That is expected, and it is why the maker count is the figure that keeps a run visible after it ends.
Reading a holder list after a session#
- Session wallets that still hold show up as small, similar-sized positions. As the session finishes they sell.
- The bonding curve account (before migration) or the pool (after) is usually the largest holder. It is not a person.
- Your own wallet, the creator wallet and any team wallets are separate from session wallets.
For a full method of reading a Pump.fun holder list, including which addresses to ignore, see our article How to read a Pump.fun holder list before you buy.
Why the distinction matters for you#
If you judge a session by the holder count the day after, you will be looking at the number designed to fall back. Look at makers, transactions and volume for the period the session ran, and look at holders for what organic buyers did around it. The glossary entry for maker on the main site has the short definition.