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The WHITEWHALE meme coin on Solana has survived a major sell-off and rug pull accusations after a top holder exit triggered a sharp collapse and rapid rebound in price.
The token plunged about 60% on January 20 after a single large wallet sold roughly $1.3 million worth of WHITEWHALE, briefly wiping out most of its market value before buyers stepped back in.
“…our largest private holder exited the majority of their position…we didn’t participate in the selling…this wasn’t a treasury-driven event…it was a liquidity event,”
Said The White Whale, the trader whose online persona inspired the token.
Launched on Pump.fun in late 2025 with no roadmap, utility or known founder, WHITEWHALE was driven purely by narrative and volatility, surging more than 900% from December lows before the crash, according to CoinGecko.
Momentum was fuelled by exchange listings and a “retail revenge” narrative against bots and insiders, with the token briefly exceeding a $200 million market capitalisation, data from Messari showed.
Confidence partially returned after the treasury locked 40 million tokens for a year and redistributed supply, helping the price recover toward an $80–90 million valuation.
Despite the rebound, critics warn that extreme whale concentration, lack of utility and violent price swings leave WHITEWHALE highly risky, even as supporters argue its transparency sets it apart from most Solana meme coins.
At the time of reporting, Solana price was $97.55.