WhiteWhale Memecoin Crashes 60% After Whale Dumps $1.3M
WhiteWhale tanked 60% over seven days after a top holder liquidated $1.3 million worth of tokens. Down 22% in the last 24 hours alone.
Quick overview
- WhiteWhale's value plummeted 60% in a week after a major holder liquidated $1.3 million in tokens, triggering panic selling among retail investors.
- The token's market cap has dropped from $110 million to around $40 million, with early investors cashing out significant profits while retail holders are left with losses.
- The initial hype surrounding WhiteWhale was fueled by a narrative of 'retail vs whales,' but it became clear that early buyers were also whales who positioned themselves before the pump.
- Despite some technical indicators suggesting potential recovery, the lack of a solid use case and community engagement has led to the token's decline, highlighting the risks of memecoins.
WhiteWhale tanked 60% over seven days after a top holder liquidated $1.3 million worth of tokens. Down 22% in the last 24 hours alone. Classic memecoin death spiral – one big seller triggers panic, everyone else rushes for exits.
The token hit $110 million market cap early January after rallying 50x from its December launch. Now it’s sitting around $40 million. Someone turned $370 into $1.2 million riding the pump. Smart money got out. Retail’s holding bags.
The whole thing started with The White Whale, a derivatives trader who got into a fight with MEXC over $3 million in frozen funds. Exchange accused him of bot trading violations. Community rallied around him, MEXC backed down, released the money, apologized publicly. That drama gave the token its narrative hook.
White Whale took over the community-launched token, locked liquidity, rolled out holder incentives. KOLs amplified it. Early wallets accumulated in October before anyone cared. By the time retail noticed, insiders already sat on massive positions.
CoinGecko shows WHITEWHALE down 60.2% this week while the broader crypto market’s up 0.9%. Solana meme ecosystem’s flat. This isn’t macro selling pressure. It’s one token imploding because holders realized the game’s over.
Trading volume hit $40 million yesterday. That’s real but most of it’s people trying to get out. When a memecoin drops 60% in a week, volume spikes from panic selling not accumulation. Check the order flow – it’s all market sells into weak bids.
The token’s narrative was always thin. “Retail vs whales” sounds good until you realize the early buyers were whales too. They just positioned before the pump. One wallet bought in at $370, cashed out chunks at $6,200 (16x return) and $220,000 later. Still holding $930,000 worth according to Arkham’s January 13 snapshot. Probably dumped more since then.
WEEX data showed WhiteWhale dropped 70% from its launch peak of $0.001 to $0.0003 within 24 hours back in December before recovering. Same pattern as BONK’s 2023 launch. The difference? BONK had sustained community activity and utility beyond the initial hype. WhiteWhale’s just a narrative play that’s fading.
Some analysts pointed to a golden cross on the daily chart – 20 EMA crossing above 50 EMA. Technical signals don’t matter when the underlying story collapses. Charts can’t save tokens with no real use case once attention moves elsewhere.
Solana meme season looked dead for months. WhiteWhale’s rally gave people hope it was coming back. Instead, this crash reminds everyone why 86.3% of crypto projects launched in 2025 failed. Memecoins work until they don’t. When top holders exit, retail gets destroyed.
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