Meme coin WhiteWhale's market cap plummeted by 60% within 5 minutes early this morning due to several large holders collectively selling over 48 million tokens.
BlockBeats News, January 20, according to GMGN monitoring, the Meme coin WhiteWhale on the Solana chain experienced a sudden sell-off around midnight today, with its market cap plummeting from about $50 million to nearly $20 million within 5 minutes, a drop of approximately 60%. As of press time, its market cap has rebounded to $37 million, with the current price around $0.038, and a 24-hour decline of 36%.
Monitoring data shows that this decline was triggered by concentrated selling from several addresses on the top holders list. Addresses (6kas…), (5tf1…), and (5AAn…) collectively sold over 48.36 million tokens in a short period starting at 00:27, with a total value of about $1.6 million, causing significant downward pressure on the token price in a short time.
Currently, there are many Meme coins with the same name in the market. The token contract with the highest liquidity at present is:
「WhiteWhale」: a3W4qutoEJA4232T2gwZUfgYJTetr96pU4SJMwppump
BlockBeats reminds users that Meme coin trading is highly volatile, mostly driven by market sentiment and hype, and lacks actual value or use cases. Investors should be aware of the risks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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