Meme Coin WhiteWhale's Market Cap Plunges 60% in 5 Minutes as Multiple Whales Concentrated Sell-off of Over 48 Million Tokens

BlockBeats News, January 20th, according to GMGN monitoring, on the Solana blockchain, the Meme coin WhiteWhale suffered a sudden sell-off around 0:00 today. Its market value plummeted from around $50 million to nearly $20 million within 5 minutes, a drop of about 60%. At the time of writing, its market value has rebounded to $37 million, with a current price of around $0.038, representing a 24-hour loss of 36%.

Monitoring data shows that this drop was triggered by concentrated sell-offs from several early entry addresses on the holding list. Addresses starting with (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 selling pressure on the token price. Among them, the address starting with 5tf1 had an average buy-in price of about $0.006 and has already realized a 420% profit on this Meme.

There are currently many Meme coins in the market with the same name, and the token with the highest liquidity at the moment is:

「WhiteWhale」: a3W4qutoEJA4232T2gwZUfgYJTetr96pU4SJMwppump

BlockBeats reminds users that Meme coin trading is highly volatile, largely driven by market sentiment and hype, with no actual value or use case. Investors should be aware of the risks.