Solana whales sold off millions of dollars worth of WhiteWhale tokens, causing the price to plummet by 20% instantly.

According to Bubblemaps, the Solana Chain whale wallet (8Ldjm), which once drove the price of WhiteWhale from $60,000 to $2.5 million, suddenly resurfaced after 30 days of inactivity, dumping approximately $1 million worth of WhiteWhale within 15 minutes, causing the price to plummet by 20%. This address was the largest buyer before the CTO's purchase and was once the second-largest holder, currently still holding 2.5% of the total supply. The WhiteWhale team stated that the wallet was not an insider and that they attempted to propose an OTC protocol to alleviate the selling pressure but were rejected.