Meme Coin WhiteWhale's Early Morning 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 was suddenly sold off around 00:00 today. Its market value plummeted from around $50 million to nearly $20 million in about 5 minutes, a 60% drop. At the time of writing, its market value has rebounded to $37 million, with the current price around $0.038, a 24-hour drop of 36%.

Monitoring data shows that this decline was triggered by a concentrated sell-off from multiple early buying addresses on the holding rankings. The addresses (starting with 6kas...), (5tf1...), (5AAn...) collectively sold over 48.36 million tokens in a short period starting at 00:27, with a total value of approximately $1.6 million, causing significant selling pressure on the token price. Among them, the address starting with 5tf1 had an average purchase price of about $0.006 and has already realized a 420% profit on this Meme.

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