
A major former top holder’s $1M token sale after dormancy triggered a steep price drop, illustrating the vulnerability of Solana meme coins to whale activity.
A previously inactive Solana whale wallet abruptly sold about $1 million worth of WhiteWhale tokens in just 15 minutes after 30 days of no activity, causing a 20% price drop. The wallet had once been the second-largest holder with 2.5% of the total supply, having earlier grown a $60,000 stake into $2.5 million. Bubblemaps identified the holder, and the WhiteWhale team confirmed it was not an insider, noting declined over-the-counter options to soften the market impact. This event underscores liquidity risks and the influence of whale trades on volatile Solana meme coin markets.