TL;DR
- The WhiteWhale memecoin dropped 60% after a sale of roughly $1.3 million by its largest holder, three months after its launch on Pump.fun.
- Market capitalization fell from around $200 million to the $20 million area in less than five minutes.
- The token showed a partial recovery and now trades between $0.033 and $0.040, with a market cap of $33.8–$40 million and volume above $12 million.
The WhiteWhale memecoin recorded a sharp 60% drop in market capitalization following a large-scale sale carried out by its largest private holder. The Solana-based token, launched three months ago on Pump.fun, lost a significant portion of its value within minutes after one or more wallets offloaded approximately $1.3 million worth of WHITEWHALE, according to on-chain data.
The sell-off occurred without prior notice and pushed market capitalization down from levels near $200 million to the $20 million area at the lowest point of the move. The decline unfolded in under five minutes and coincided with a rapid loss of liquidity, which amplified the impact of the sell orders.
The episode was initially flagged by on-chain analysts, who identified a trader known as “Remus” among the main sellers. Records show that Remus acquired roughly 1.5% of the total supply for $370. During the token’s rally, that position reached a valuation close to $1.2 million. The trader later sold about $220,000 worth of tokens, a transaction that coincided with the start of the decline. After the correction, the wallet still holds a remaining balance close to $1 million in WHITEWHALE.
The WhiteWhale Team Denied a Treasury Dump
In parallel, Bubblemaps charts and Arkham data detected transactions from wallets linked to early purchases and addresses associated with the token’s initial deployment. Two addresses, including one tied to the deployer, executed sales totaling around $1.3 million during the same time window. No direct sale from the project’s treasury was confirmed.
Following the initial collapse, the WhiteWhale deployers posted a statement on X. In the message, they denied a treasury dump and described the episode as a “liquidity event.” They stated that the exit of an oversized holder altered the supply distribution and confirmed that buybacks were executed during the drop.
After the shock, the token posted a partial recovery. The memecoin now trades between $0.033 and $0.040, with a market capitalization ranging from $33.8 million to around $40 million. Trading volume exceeded $12 million, driven by elevated activity
