Meme Coin WhiteWhale Plummets 60% Following Rug Pull Claims; Large Investors Sell $1.3M Worth of Tokens

WhiteWhale, a community-driven meme coin on the Solana blockchain, has seen a significant market downturn of 60% in just five minutes due to allegations of a rug pull. Following the drop, large holders offloaded $1.3 million in tokens, resulting in heavy losses for many investors.

Key Takeaways

Market Collapse: WhiteWhale’s market cap dropped from $200 million to $20 million rapidly.
Significant Sell-off: A trader, known as 'Remus', capitalized on the situation, selling $220,000 worth of tokens.
Market Recovery: By the following day, the token's market cap rebounded to $33.8 million.
Wider Industry Trends: Research indicates that over 50% of cryptocurrencies have experienced failure, underscoring the volatility in the market.

Meme Coin WhiteWhale Plummets 60% Following Rug Pull Claims

Sudden Market Downturn for WhiteWhale

WhiteWhale, a meme coin launched three months ago via Pump.fun, has faced a dramatic sell-off. In a mere five minutes, the token's market cap plunged by 60%, sending shockwaves through the community.

On-chain data reveals that a significant holder liquidated $1.3 million in tokens this past Monday. This unexpected downturn has resulted in substantial losses for many investors, with the crypto community widely labeling the event as a rug pull.

Early Investors Reap Larger Rewards

Market analyst Darky was one of the first to highlight the drastic drop on social media, noting that the "viral memecoin" saw its market cap shrink from $200 million to just $20 million almost instantly.

Interestingly, it seems at least one investor made a noteworthy profit amidst the chaos. A trader known as ‘Remus’ purchased 1.5% of the total token supply for $370. His investment peaked at $1.2 million during a brief rally, and he went on to sell $220,000 worth of tokens, contributing significantly to the ongoing price decline.

WhiteWhale Trading Activity

Despite the downturn, Remus still holds nearly $1 million in WhiteWhale tokens. The coin's community insists that this sell-off was a planned liquidity event aimed at distributing ownership and minimizing risks for investors.

By Tuesday, WhiteWhale's market cap showed signs of recovery, rising to $33.8 million with a token price of $0.033 at press time.

The Rising Concerns around Meme Coins

A recent analysis by CoinGecko reveals troubling statistics about the cryptocurrency market, stating that more than 50% of cryptocurrencies have failed to succeed.

The report highlighted that “in 2025 alone, 11.6 million tokens failed, representing a staggering 86.3% of all token failures.” Throughout the year, memecoins have been significantly impacted by broader market volatility, leading to a sharp drop in the longevity of many tokens.

“Disturbingly, in the fourth quarter of 2025 alone, 7.7 million tokens collapsed, which accounts for 34.9% of all recorded project failures.”

Moreover, the year 2024 saw nearly 1.4 million projects fail, making up 10.3% of total failures over the last five years, emphasizing the risks involved for investors in this high-stakes market.