The memecoin White Whale experienced a significant price drop on Monday, falling 60% after a major holder sold off $1.3 million worth of the token. According to reports, the project described this event as a "liquidity event." The exit of a large holder often impacts the price of smaller market capitalization cryptocurrencies due to the concentration of ownership and the potential for large sell-offs to trigger further declines.

The memecoin White Whale experienced a significant price drop on Monday, falling 60% after a major holder sold off $1.3 million worth of the token. According to reports, the project described this event as a "liquidity event." The exit of a large holder often impacts the price of smaller market capitalization cryptocurrencies due to the concentration of ownership and the potential for large sell-offs to trigger further declines.