It comes as Rooney claimed fake stories about her had been sold to the press with the leak coming from Vardy's Instagram account, which Vardy has denied.
Although Holden admitted she didn't personally know either of them she has had her say on the drama that's gripped social media over the past 24 hours.
Speaking on her Heart Radio breakfast show, Holden expressed her views on the situation where she cast doubt on whether Vardy had the motives to sell stories about Rooney.
The 48-year-old declared: "I do have a theory on this with just, just being cynical, slightly about the whole thing is, whatever you think about either one of those people, I mean you know I don’t know either of them – I think if, Rebekah Vardy’s not going to gain anything, she doesn’t need the dosh, she doesn’t really need the publicity.
"Now is there a chance that she could have shared some of Coleen’s private posts with somebody in her camp and it is that person that has been treacherous and gone and sold these stories. Is there a slim chance?"
Holden also suggested that the pregnant Vardy might not want to get herself involved in such drama considering she's with child.
The Britain's Got Talent judge added: "Because I’m being quite mindful of the fact that she’s up the duff, she’s pregnant, she’s got a baby in there and we need to be mindful of all of the stress this might be causing but you know, we cannot stop reading about it – I’m human!"
Holden isn't the only one to wage in on the debate as Danielle Lloyd appeared on This Morning today to discuss yesterday’s events.
Lloyd, who was previously married to footballer Jamie O'Hara, shared she had "similar run-ins" with Vardy.
Revealing that she wasn't shocked by Rooney's allegations, Lloyd said: "I wasn’t shocked, because I’ve had run-ins with Rebekah before over similar things.”
However, Vardy has taken to Twitter to hit back at Lloyd's comments.
She wrote: "Danielle Lloyd making false claims on @thismorning that we have had ‘similar run-ins’ is utter b*******s. She is just fuming that I ‘didn’t get Jamie recruiting’ for her like she asked me to...
"On a more serious note I’ve been inundated with messages from everyone but I’m not saying anything more until we’ve finished looking into this situation properly."
Lloyd then replied directly to Vardy, firing back: “@RebekahVardy do you mean like how the sun recruited you Luv! #secretwag we are all entitled to our opinions and we all know it came from your account attacking me won’t take that away another low blow by you #notagirlsgirl.”