WhiteWhale Faces 60% Drop Following $1.3M Solana Memecoin Selloff

Summary:
Solana's memecoin, WhiteWhale, experienced a significant 60% drop in value after a large $1.3 million selloff by major token holders raised concerns over a potential rug pull. This incident highlights the volatility in the cryptocurrency market, especially among memecoins, as CoinGecko reports that a substantial portion of cryptocurrencies face failure.

Key Takeaways

The memecoin WhiteWhale's price dropped by 60% after a $1.3 million selloff.
The drop was attributed to accusations of a rug pull and substantial token sell-offs by large investors.
Despite the decline, some token holders are still retaining a significant number of tokens.
CoinGecko reports that over 50% of cryptocurrencies faced failure in 2025, indicating broader market volatility.

WhiteWhale Solana memecoin drops 60% after $1.3m whale selloff

Market Reaction to WhiteWhale's Decline

WhiteWhale, a community-focused meme coin on the Solana blockchain, saw a drastic 60% decline in its price after a $1.3 million selloff by large holders raised alarm bells, with on-chain data indicating a worrying trend of whale exits. This dramatic shift came amid rising accusations of a rug pull affecting the token.

The memecoin, which was introduced three months ago via the Pump.fun platform, encountered heavy selling pressure on Monday, resulting in a swift decrease in its market capitalization. The drop led to significant financial losses for many token holders.

Market analyst known as Darky raised the alert on social media, highlighting the sharp fall of the trending memecoin. On-chain records revealed that a trader named Remus had acquired 1.5% of the entire token supply at a low price. After an uptick in value during a subsequent market rally, Remus sold part of his holdings, which contributed to the notable drop.

Despite the price decrease, Remus reportedly still possesses considerable amounts of WhiteWhale tokens, according to blockchain data. Community members from WhiteWhale suggested that the selloff was part of a planned liquidity distribution aimed at diversifying ownership and reducing concentration risks.

As per market updates, the token showed signs of partial recovery by Tuesday.

Trends in Cryptocurrency Failures

A recent report from CoinGecko presented alarming statistics, noting that more than half of all cryptocurrencies have failed, with millions of tokens collapsing in 2025 alone. This marked a significant year for token failures, particularly for memecoins, which faced intense scrutiny and pressures from wider market volatility, leading to lower survival rates.

The report indicated that the last quarter of 2025 witnessed the downfall of millions of tokens, contributing to an alarming trend observed over the past five years. In 2024, nearly 1.4 million projects failed, which accounted for a substantial share of all documented failures in the crypto space.