Meme Coin WhiteWhale Market Cap Halved: "TheWhiteWhale" Publicly Revealed to Hold 58% of the Tokens, with Weekly Buys Exceeding $2.1 Million

BlockBeats News, February 11th, according to GMGN monitoring, on the Solana blockchain, the Meme coin WhiteWhale has recently seen a continuous decline in market value. It has fallen by about 57% from its high point of around $140 million on February 8th to a current market value of $59 million, with a current price of about $0.062 and a 24-hour trading volume of $5.4 million.

Despite the price drop, trader "TheWhiteWhale" continues to buy. Currently, their holding of the token is worth around $34.5 million, with a holding ratio of 58.13%. They are currently at an unrealized loss of about $86,000 (-29%) and have not made any sales yet.

GMGN data shows that their main holding address (EBxgM) holds tokens mostly bought through several sub-addresses. In the past 24 hours, there has been a cumulative token inflow of about $219,000, with a net inflow of over $2.1 million in the last week.

This Meme coin was originally created by fans borrowing the famous trader The White Whale's (X:TheWhiteWhaleV2) avatar on X and Hyperliquid. It was later taken over by The White Whale, who aggressively built up holdings through purchases.

BlockBeats reminds users that Meme coin trading is highly volatile, mostly driven by market sentiment and concept speculation, without actual value or use case. Investors should be aware of the risks.