BlockBeats News, January 20th, according to GMGN monitoring, an on-chain Solana Meme coin, WhiteWhale, was suddenly sold off around 0:00 today. Its market value plummeted from around $50 million to nearly $20 million in about 5 minutes, a drop of about 60%. At the time of writing, its market value rebounded to $37 million, with the current price at around $0.038, a 24-hour drop of 36%.
Monitoring data shows that this drop was triggered by concentrated selling from multiple early whale addresses on the holder’s list. Addresses (6kas…), (5tf1…), (5AAn…) collectively sold over 48.36 million tokens in a short period starting at 0:27, with a total value of about $1.6 million, causing significant downward pressure on the token price.
There are currently many Meme coins with the same name in the market, and the contract address with the highest liquidity is:
「WhiteWhale」: a3W4qutoEJA4232T2gwZUfgYJTetr96pU4SJMwppump
BlockBeats reminds users that Meme coin trading is highly volatile, often driven by market sentiment and hype around concepts, with no actual value or use case. Investors should be aware of the risks.
