White Whale Memecoin Slides 60% After Top Holder Dumps $1.3 Million

2026-01-20 10:30:27

Source: CryptoNewsNet Original Title: ‘White Whale’ memecoin slides 60% after top holder dumps $1.3 million Original Link: The Solana-based memecoin White Whale fell as much as 60% on Monday after its largest private holder sold most of their position, data shows, triggering a wave of market selling and fresh accusations of a “rug pull” on X.

On-chain data show the holder unloaded roughly $1.3 million worth of WHITEWHALE tokens, pushing the price sharply lower as liquidity thinned.

The move briefly erased a large chunk of the token’s market value before prices slightly recovered, with a token pair liquidity of just above $900,000 as of European morning hours.

This episode highlights the risks tied to smaller memecoins, which are highly illiquid and lack the market depth needed to absorb large orders. Their values are therefore extremely vulnerable to the buy/sell decisions of big holders, who tend to move quickly, wreaking havoc on prices.

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