Circulating supply vs Total supply: what's the difference?
Two supply numbers whose gap reveals exactly how much dilution is still coming.
The short version
Two supply numbers whose gap reveals exactly how much dilution is still coming.
- Circulating supply: Tokens currently tradable on the open market.
- Total supply: Every token that exists (minus burns), including locked and vesting.
Side by side
| Dimension | Circulating supply | Total supply |
|---|---|---|
| What it drives | Market cap | FDV |
| Includes locked tokens? | No | Yes |
| The gap means | Nothing on its own | Future dilution overhang |
| Memecoin norm | Often = total at launch | Often = circulating (verify) |
Which one should you care about?
Key idea — A big gap between circulating and total supply is future sell pressure. Always check both before holding through an unlock.
Reading the chart is step one. Getting pinged in real time is step two.
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