According to @lookonchain, the RALPH developer sold 7.68M RALPH for 1,888 SOL, reported on X twitter.com/lookonchain/status/2014299293272908115 and visible on Solscan solscan.io/tx/HhGNveSe1sqBbpj7C7Kdcxv2WhNKfczyHmmbDpyKyGa2rgxVgVZFSLS7wTBMzeK6SPajN4TNvUFhqHA6tBPiBQe. The move coincided with a drop in RALPH’s market cap from over $50M to about $5M, as stated by @lookonchain on X twitter.com/lookonchain/status/2014299293272908115. @lookonchain also flagged a second wallet, 2mvtNn, that still holds 19.61M RALPH, noted on X twitter.com/lookonchain/status/2014299293272908115 and verifiable on Solscan solscan.io/account/2mvtNnTP2CBRz24q1BzmDX9cv2bQBsY8E77D32qkYKCm. Traders tracking RALPH can monitor further transfers from 2mvtNn directly on Solscan solscan.io/account/2mvtNnTP2CBRz24q1BzmDX9cv2bQBsY8E77D32qkYKCm.

According to @bubblemaps, Geoffrey’s wallet 5f2Qj9 sold $300k of RALPH across three transactions and is part of a 2% holder cluster; source: Bubblemaps on X (twitter.com/bubblemaps/status/2014282224112439772) and Bubblemaps cluster map (v2.bubblemaps.io/map/gcKwO2Xe39piAWt0At7B). @bubblemaps relayed that Geoffrey Huntley confirmed the sale as necessary "de-risking" while noting he still holds RALPH; source: Geoffrey Huntley on X (x.com/GeoffreyHuntley/status/2014256416295633375). Huntley added he could have waited about 12 hours for the next vesting schedule and provided proof via the Streamflow Solana contract; source: Geoffrey Huntley on X (x.com/GeoffreyHuntley/status/2014256416295633375) and Streamflow Finance contract (app.streamflow.finance/contract/solana/mainnet/2k6sdZS6CNFN6pjP1Cdhc7uz2ZK2KW6ciA4F2Wxhg7ma?new=). For traders, a whale sale from a concentrated 2% cluster alongside referenced vesting unlocks signals potential supply overhang and volatility; source: Bubblemaps cluster view (v2.bubblemaps.io/map/gcKwO2Xe39piAWt0At7B) and Huntley’s vesting commentary on X (x.com/GeoffreyHuntley/status/2014256416295633375). Actionables: track the 2% cluster addresses on Bubblemaps and the Streamflow vesting timeline for timing risk, and monitor liquidity for slippage around unlock windows; source: Bubblemaps (v2.bubblemaps.io/map/gcKwO2Xe39piAWt0At7B) and Streamflow Finance (app.streamflow.finance/contract/solana/mainnet/2k6sdZS6CNFN6pjP1Cdhc7uz2ZK2KW6ciA4F2Wxhg7ma?new=).

According to @lookonchain, a newly created wallet FYqRpV spent 470,000 USDC to buy 10.19 million RALPH and, after the token crashed, sold the entire position for 114,861 USDC, realizing about 355,000 USDC in losses within hours. Source: Lookonchain on X.