The Solana-based memecoin White Whale ($WHITEWHALE) has fallen 60% over the last seven days after a holder sold about $1.3 million worth of tokens. The sell-off came during wider crypto market correction and pushed the token down another 22% in the last 24 hours.
The sale was highlighted by on-chain analytics firm Bubblemaps. The token’s market capitalization has fallen from a peak of about $110 million to roughly $40 million as of January 20, 2026.
JUST IN: 🐳 The top holder of $WhiteWhale sold $1.3M
Causing a -60% price candle
The wallet still holds 1% of the supply pic.twitter.com/CkrBhN31A8
— Bubblemaps (@bubblemaps) January 19, 2026
A holder put heavy pressure on the market
On-chain data shows that wallet 6kasXu was an early buyer of $WHITEWHALE and received tokens from the deployer address CZFDnH. That deployer had bought 45 million tokens after the initial token offering.
Both wallets sold about $1.3 million worth of the token within a recent hour, according to the analysis. Wallet 6kasXu had previously turned an investment of about $60,000 into a position valued at roughly $2.5 million.
The selling became damaging because millions of tokens were sold within about 15 minutes. The rapid sales pushed the price down by around 20%, after which other holders began selling.
This is a common problem with smaller memecoins. When a wallet controls a meaningful amount of supply, one large sale can quickly drain liquidity and leave other holders rushing for the exit. This can cause more selling.
The whale address reportedly still holds around 1% of the total $WHITEWHALE supply. The development team has said the wallet is not an insider. The team also tried to reach an OTC deal with the holder, but the proposal was rejected.
ALSO READ: CZ Explains Memecoin Burns, Tells BNB Chain Users to Send Tokens Directly to Burn Address
White Whale’s community story faces a test
The sell-off also puts pressure on the story that helped drive White Whale’s rise. The project had attracted attention around a retail-focused narrative that positioned the community against larger market players.
The latest transactions show why wallet activity matters in memecoin markets. Large early holders can still have enough tokens to affect its price when they sell.
The crash also shows the difference between market value and available liquidity. White Whale’s market capitalization may have reached $110 million, but that did not mean $110 million could leave the token without causing a major price move.
At the same time, the wider memecoin market has shown some signs of recovery from recent lows.
For White Whale, the immediate issue is whether buyers return after the large sale and whether the market can absorb the remaining tokens held by early investors.
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