White Whale Memecoin Plummets 60% After Top Holder Liquidates $1.3 Million

Key Takeaways

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  White Whale ($WHITEWHALE) experienced a massive 60% price drop over the last seven days following a significant liquidation by a top-tier holder.
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  A single whale wallet, identified as “8Ldjm,” offloaded approximately $1.3 million worth of tokens, triggering a wave of panic selling across retail markets.
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  The token’s market capitalization has evaporated from a peak of $110 million to approximately $40 million as of January 20, 2026.

The Solana-based memecoin White Whale ($WHITEWHALE) has seen its market value collapse by 60% this week after a primary investor dumped $1.3 million worth of the asset. The liquidation, which occurred amidst a broader market correction, has sent the token’s price into a tailspin, with a 22% decline recorded in the last 24 hours alone. This rapid devaluation marks a sharp reversal for a project that had previously rallied 50x from its December launch.

Massive Whale Liquidation Triggers Retail Panic

On-chain analysis shows that Wallet ‘6kasXu,’ an initial buyer of $WhiteWhale, received tokens from the deployer address ‘CZFDnH’ (which itself bought 45 million tokens after the initial token offering). Both wallets sold approximately $1.3 million worth of the cryptocurrency in a recent hour, as indicated by the price chart.

This particular wallet ‘6kasXu’ had been crucial in establishing the token’s early price momentum, having previously transformed an initial $60,000 investment into a $2.5 million valuation. The investor’s rapid offloading of millions of tokens over just 15 minutes instantly cut the price by 20%, triggering a market “death spiral” as retail investors joined the sell-off.

Despite the massive sales, the whale address reportedly still holds about 1% of the total $WHITEWHALE supply. The development team has confirmed that the whale is not an insider. Furthermore, the team’s attempt to negotiate an over-the-counter (OTC) deal with the whale to manage the selling pressure and avert a market crash was ultimately rejected.

Narrative Shift and Market Impact

The crash highlights the fragility of the “retail vs. whales” narrative that initially fueled the token’s rise. While the community rallied around a story of defiance against centralized exchanges, it has become evident that early buyers, often large-scale “smart money” players, had positioned themselves long before the public hype.

However, this localized crash for $WHITEWHALE comes as the broader memecoin sector shows tentative signs of recovery from historic lows, suggesting a potential market rotation into a speculative asset.