Top $WhiteWhale holder sells $1.3M, causing a 60% price drop. Wallet still holds 1% of the supply, signaling potential future volatility.
A major shift occurred in the $WhiteWhale market after the top holder sold $1.3 million worth of tokens.
This sell-off caused a dramatic 60% price drop in a single candle. The whale still holds 1% of the token’s supply, which could lead to further market fluctuations.
This incident raises questions about the future price action of $WhiteWhale.
Whale Sell-Off Causes Massive Price Drop and Market Reaction
According to Bubblemaps, on January 19, 2026, the top holder of $WhiteWhale sold $1.3 million worth of the token.
The sale caused an immediate 60% price drop, triggering panic among traders and increasing market activity.
This dramatic movement occurred in just one price candle, resulting in a sudden and sharp change in market conditions.
Despite the large sale, the wallet still holds 1% of the total supply, which could lead to further market fluctuations.
Despite the significant sell-off, the wallet still holds 1% of the total token supply. This means the market may see additional impacts if the whale decides to sell more tokens.
Whale activities in smaller cryptocurrencies can often cause large price swings due to the concentration of holdings.
Traders Look for Support Levels and Price Recovery
Following the 60% drop, traders are searching for potential support levels where the price may stabilize. In the crypto market, large price changes like this often test key support zones.
If the token can find support at previous lows, it might begin to recover. On the other hand, if no support is found, further declines could be possible.
The sell-off also increased trading volumes, suggesting that some traders may see the drop as an opportunity to buy.
For now, the market remains uncertain, with the token still facing pressure. Traders will be watching closely to see if any signs of price reversal appear in the coming days.
Related Reading: WHITEWHALE Rug Pull? Memecoin Plunges 45% as $200M Valuation Collapses
Impact of Whale Holding 1% of Total Supply on Market Sentiment
The whale that triggered the price drop still controls about 1% of $WhiteWhale’s total supply.
This remaining portion could play a key role in future market movements. If the whale decides to sell more, it could cause additional downward pressure on the price.
On the other hand, if the whale holds, the market might stabilize in the short term.
Traders and analysts will closely monitor any changes in the whale’s wallet. Tracking these movements can provide early signals about potential price shifts.
As the market continues to react, the future of $WhiteWhale depends on both the actions of large holders and smaller investors.
The recent sell-off highlights the risks of concentrated holdings in smaller-cap cryptocurrencies.
For now, traders will need to stay alert and make decisions based on real-time data and market sentiment.
Source: https://www.livebitcoinnews.com/one-whale-sale-sent-whitewhale-down-60-and-the-risk-isnt-over/
