WhiteWhale bulls face 60% wipeout after $1.3m Solana meme coin dump

Solana memecoin WhiteWhale plunged 60% after a $1.3m token selloff, as on-chain data tracks whale exits and CoinGecko flags 2025 as a record year for token failures.

WhiteWhale, a community-driven Solana meme coin, experienced a 60% price decline following accusations of a rug pull and a $1.3 million token sale by large holders, according to on-chain data.

Solana memecoin WhiteWhale plunges 60%

The token, launched three months ago on the Pump.fun platform, witnessed significant selling activity on Monday that caused its market capitalization to decline within minutes, according to blockchain data. The event resulted in substantial losses for token holders.

Market analyst Darky flagged the price crash on social media, noting the rapid decline of the viral memecoin. Blockchain data indicates that a trader identified as Remus purchased 1.5% of the total token supply at a low price point. The position appreciated in value during a subsequent rally before Remus sold a portion of the holdings, contributing to the price decline.

Remus continues to hold a substantial amount of WhiteWhale tokens despite the decreased valuation, according to on-chain records. Members of the WhiteWhale community characterized the event as a planned liquidity distribution designed to broaden token ownership and mitigate concentration risks.

The token showed partial recovery by Tuesday, according to market data.

A recent analysis by CoinGecko reported that more than 50% of cryptocurrencies have failed. The report stated that millions of tokens failed in 2025 alone, representing a majority of token failures. Memecoins experienced significant pressure from broader market volatility throughout the year, resulting in decreased token survivability rates.

The fourth quarter of 2025 recorded the collapse of millions of tokens, constituting a significant portion of all documented project failures, according to the CoinGecko report. The year 2024 saw nearly 1.4 million project failures, accounting for a notable share of all failures over the past five years, the report stated.