What is wallet and flow data?
Every trade, transfer and liquidity change on Solana is public. Flow data is that activity read as a picture: who is buying, who is selling, how big the orders are and where tokens go afterwards. Wallet data is the other half: who the large holders are and how they are connected.
Read well, it answers questions a chart cannot. Is a rally many small buyers or one large one? Are early holders selling into it? Is liquidity being added or pulled? The on-chain market analysis framework covers why this matters. This page is the practical part.
How do you read a token's trades feed?
Start with recent trades. Each one shows the side, the size in dollars and the price. Look for patterns rather than single trades:
- Many small buys: broad interest, often from new holders.
- A few large buys: one or two wallets driving the move. Strong while they buy, fragile once they stop.
- Large sells from the same addresses: a holder distributing into demand.
- Buys and sells of near-identical size, back and forth: possible wash trading to inflate volume. See wash trading.
NAVI's trading terminal has a transactions feed for each token's main pool, read from Birdeye with GeckoTerminal as a fallback and refreshed every few seconds while it is open. It needs a free account and a desktop screen.
How do you read large holders and whales?
A whale on a memecoin is a wallet with a large share of supply, not necessarily a large dollar balance. The questions are how many there are, whether they are connected and what they are doing.
NAVI's whale tracker reads every token account for a token from the chain and sorts them by balance. The bubble map draws the 25 largest, or up to 40 in a deep map, sized by their share of supply. Liquidity pools, vaults and pump.fun bonding curves are marked as protocol accounts, and exchange wallets are labelled, so a trading venue is not mistaken for a person who can dump on you.
How do you spot linked wallets?
One owner can hide behind many addresses. Two on-chain links are the most reliable clues:
- Direct transfers: one holder sent the token to another.
- A shared funder: the same wallet first funded both with SOL.
NAVI joins wallets linked in either way and marks groups of seven or more as bundled. The top holders' combined share with linked wallets counted as one owner sits next to the rug score on token pages, and it is often far higher than the plain top-10 figure. How to analyse holder distribution covers what to do with that number.
What do exchange movements tell you?
This applies only to tokens listed on centralised exchanges, which rules out most new memecoins. When a large holder sends tokens to an exchange wallet, they can usually sell there without touching the on-chain pool. It is one of the clearest early signs of selling, and it does not show up in the pool's trades at all.
The reverse can matter too: tokens leaving an exchange for a private wallet often mean someone intends to hold. Neither move is proof, because exchanges also shuffle tokens between their own wallets. Treat exchange flows as a reason to look closer, not as a trigger.
Why watch liquidity flows?
Liquidity changes are flow data too. Liquidity added to a pool while volume rises means participants are committing capital to the market. Liquidity removed while the price holds up is a warning, because the pool you would sell into is getting thinner. If the liquidity is unlocked, it can be removed all at once.
The rug check shows how much of a pool's liquidity is unlocked, and the liquidity and turnover list ranks tokens by how hard their pools are being traded. How to check Solana token liquidity covers the pre-trade side.
How do you check a single wallet?
Sometimes the question is about a wallet rather than a token: an influencer's wallet, a team treasury or a wallet you are thinking of copying. NAVI's wallet checker gives any Solana address a Low, Medium or High risk grade for its whole portfolio, weighted by how much of its value sits in risky tokens, and counts how many of its holdings NAVI rates high risk. The token-by-token breakdown needs a free account. The check reads balances from the chain, so nothing is connected or signed.
A wallet posted as smart money can turn out to hold mostly fresh, thinly traded tokens. Checking it first shows what following it would actually put in your portfolio. Solana whale tracking covers the case against copying wallets blindly.
What can't NAVI's flow tools do yet?
Be clear about the limits. On NAVI you cannot follow a wallet across tokens or get an alert when a specific whale trades, and there is no market-wide list of the day's largest trades. Whale data is read one token at a time. Robinhood Chain tokens have holder data but no bubble maps or wallet tracking yet. For a wallet's full raw history, a Solana explorer such as Solscan shows every transaction.
A routine to start with: pick a token from the high-volume list, read its trades feed for who is buying, open the bubble map for linked holders, check on an explorer whether the top wallets have been sending tokens to exchanges, and confirm the pool's liquidity is not unlocked. pump.fun is not available in the UK, and you should never use a VPN to get around a regional block. Not financial advice.