WHITEWHALE plummets 55%: Core figures exit triggering a crisis of trust, Solana meme coin risks resurface.

Gate News message: Based on the Solana ecosystem, the Meme coin WHITEWHALE has fallen more than 55% in a short period, with its price dropping to around $0.012. Its market cap has plummeted from a high of $181 million to below $15 million. The direct trigger for this sharp volatility was the announcement by the core promoter, The White Whale, that it is exiting the crypto community (CT), which sparked strong expectations of uncertainty about the project’s future.

On-chain and market data show that after the news was released, WHITEWHALE’s daily trading volume surged by more than 1000%, indicating that both panic selling and short-term arbitrage funds flooded in at the same time. Although this trader is not the original creator of the project, after stepping in in December 2025, by injecting liquidity and taking over community leadership, it has effectively become the project’s key opinion leader and a trust endorsement.

In its exit statement, The White Whale said its reasons for leaving involve family issues, psychological pressure, and waning interest in the crypto market. It also disclosed that it has permanently locked 500 million WHITEWHALE tokens, accounting for half of the total supply, attempting to leave the market with a “final support” by reducing circulating supply. However, this move failed to reverse market sentiment; instead, it highlighted the risk of the project’s reliance on a single core figure.

In addition, the project’s subsequent operations will be taken over by team members including Vincenzo Maiett, covering areas such as social media management and DEX liquidity strategy. But the market widely doubts whether a community-driven model can remain sustainable in the absence of the original core promoter.

This incident once again exposes structural problems in the Meme coin sector: liquidity, consensus, and price are highly dependent on key individuals. Once the core role exits, the price system is highly likely to lose stability. Especially under the backdrop of increasing market volatility, projects like WHITEWHALE are more likely to amplify risks.

For investors, this case further serves as a reminder that when participating in Solana ecosystem Meme coins or other high-volatility assets, they should focus on the project’s governance structure, the sources of liquidity, and the stability of core participants—not just rely on short-term narrative-driven momentum.