A wallet linked to developer Geoffrey Huntley sold about $300,000 of the AI-themed meme coin RALPH within an hour, triggering a rapid on-chain crash. According to Bubblemaps, Huntley stated he acted to “de-risk” before a vesting window to avoid discounted OTC exits.
Bubblemaps said the wallet sold RALPH across three transactions, producing an estimated 80% peak drop. The firm noted the cluster holds about 2% of supply while another linked address still held roughly 3%.
A newly funded whale also sold about $115,000 shortly after the developer-linked trades, Bubblemaps added. Market observers flagged the timing and low liquidity as key drivers of the sharp move.
Traders disputed the exit publicly, urging slower selling or adding tokens to liquidity pools to earn fees. One user accused the sale of “burning” alignment, while others argued developer profit-taking is common in meme markets.
At writing, RALPH traded near $0.0054 after a 66% daily drop and sits about 90% below its $0.047 all-time high from January 21. Market cap fell to roughly $4.9 million from near $47 million and 24-hour volume hit about $7.7 million (Ed. note: this volume equaled over 150% of market cap).
The episode echoes recent cautions about speculative meme tokens, including warnings from Changpeng “CZ” Zhao about joke-driven coin launches.
