White Whale falls 60% as top wallet unloads $1.3M in token holdings

TLDR

• The White Whale memecoin fell by 60% after its largest private holder sold most of their position.
• On-chain data showed that the holder sold about $1.3 million in WHITEWHALE during the sharp decline.
• Liquidity dropped quickly and the price moved lower as large sell orders entered the market.
• The project stated that the event was a liquidity issue and confirmed that it did not join the selling.
• White Whale’s deployers said they completed small buybacks during the fall and described the exit as a shift in supply distribution.

The White Whale memecoin dropped sharply on Monday after its largest private holder sold most of their position, and the move drove a fast market reaction, while fresh on-chain data highlighted how quickly liquidity weakened as the selloff unfolded.

White Whale Selloff Deepens After Large Holder Exit

The token faced heavy pressure as the early holder sold about $1.3 million in WHITEWHALE, and the sale quickly pushed prices lower as liquidity thinned, while on-chain data showed a clear spike in market activity. The move erased a large share of the token’s value before prices recovered slightly, and liquidity sat just above $900,000 during early European trading hours.

https://x.com/bubblemaps/status/2013305293300736107?s=20

Market watchers tracked wallet 6kasXu, which received tokens from deployer address “CZFDnH,” and both wallets exited around $1.3 million within an hour, yet the project stated that it did not join the selling. The team said on X that the event was a “liquidity event,” and it stressed that treasury funds were not involved in the exit, while confirming that it carried out some buybacks during the drop.

The project framed the exit as a shift in distribution, and it claimed that the oversized position no longer influenced the market, yet trading continued at a fast pace as activity surged. Prices later moved back toward $0.040 by early Tuesday, and market data showed a market cap near $40 million with around $12 million in trading volume.

Developer Response and Market Reaction

The deployers said the market should view the event as a redistribution, and they explained that supply now rests across more holders, though traders continued watching wallet flows closely. They added that the project stayed focused on product work, yet they acknowledged that large holders can move quickly in low-liquidity conditions and trigger steep moves.

Trading data showed that the White Whale memecoin still drew heavy interest overnight, and volumes stayed elevated during the recovery, while new holders continued entering the market. The token’s liquidity pool remained small relative to the size of the selloff, and price swings stayed wide across trading pairs.

White Whale launched about three months ago on Pump.fun, and it uses branding linked to the online persona @TheWhiteWhaleV2, yet the project has stressed its independence from any individual account. The memecoin grew quickly after launch, and it attracted large early buyers before Monday’s sharp reversal.

By early Tuesday, WHITEWHALE traded near $0.040 with steady volume, and market data continued to reflect strong activity across Solana-based memecoins.

The post White Whale falls 60% as top wallet unloads $1.3M in token holdings appeared first on CoinCentral.