Solana-based memecoin White Whale plunged as much as 60% after its largest private holder sold about $1.3 million in tokens, exposing the fragile liquidity and concentration risks common in smaller memecoin markets.
Major cryptocurrencies moved lower over the past 24 hours, with Bitcoin at $90,705.09, Ethereum down 3.3%, and XRP off 5.0%. At the same time, several smaller tokens posted sharp gains against the broader market decline.
Solana meme coin WhiteWhale surged 42% from a $52M market cap low to $95M. The legendary trader 'The White Whale' holds 57.6% of the supply with total profits exceeding $20.2M, though extreme concentration poses risks.
WHITEWHALE coin plunged 55.6% in 24 hours after its CTO founder The White Whale announced a permanent exit, citing personal and mental health reasons. Despite locking 500 million tokens as a 'parting gift,' the market turned bearish. The crash highlights the vulnerability of memecoins to leadership changes and broader sector risks.
Solana meme coin WhiteWhale surged after listing on Bybit spot, pushing its market cap past $95 million. On-chain data shows one early trader who spent $343 is now sitting on roughly $773,000 in combined realized and unrealized profit.
Crypto prices moved higher across the board, with Bitcoin at $67,099.30, Ethereum at $1,970.88, and BERA leading altcoin gains with a 59.1% daily jump.
