On January 20th, according to GMGN monitoring , the Solana-chain Meme coin WhiteWhale experienced a sudden sell-off around midnight, with its market capitalization plummeting from approximately $50 million to nearly $20 million within 5 minutes, a drop of about 60%. As of press time, its market capitalization has rebounded to $37 million, with a current price of approximately $0.038, representing a 24-hour drop of 36%.
Monitoring data shows that the decline was triggered by a concentrated sell-off from multiple addresses on the holdings list. Addresses (6kas…), (5tf1…), and (5AAn…) sold a total of over 48.36 million tokens, worth approximately $1.6 million, starting at 0:27, causing significant downward pressure on the price of the token in a short period.
There are currently many Meme coins with the same name on the market. The token contract with the highest liquidity is:
"WhiteWhale": a3W4qutoEJA4232T2gwZUfgYJTetr96pU4SJMwppump
BlockBeats reminds users that Meme coin trading is highly volatile, relying heavily on market sentiment and hype, and has no real value or use cases. Investors should be aware of the risks.
