Why is JellyJelly pumping while the market is dumping

While Bitcoin and Ethereum slipped into red territory, one token stole the spotlight, JellyJelly (JELLYJELLY). Traders are asking the same question: why is JellyJelly pumping while the market is dumping?

Over the past few days, the meme coin on the Solana blockchain soared by over 224%, hitting a price of $0.187 and triggering $13 million in short liquidations, according to data from CoinMarketCap. Its market cap briefly crossed $188 million, with trading volumes spiking to $220 million within 24 hours.

The whole market is nuking

Meanwhile, the forgotten meme $JELLYJELLY soared to $400M mcap

After 7 wallets bought 20% of the supply on CEXs 🧵 ↓ pic.twitter.com/5yUDXTrzjB

— Bubblemaps (@bubblemaps) November 4, 2025

What is JellyJelly?

JellyJelly, also known as Jelly-My-Jelly (JMJ), is a meme coin linked to the social video app Jelly, co-founded by Venmo’s Iqram Magdon-Ismail and early Venmo investor Sam Lessin. The token runs on Solana (SOL) and has gained attention for its chaotic community energy and rapid on-chain activity.

Lessin even joked about the project’s wild trading environment, posting on X that he “wholeheartedly supports this crazy cryptocurrency war” between gamblers, whales, and platforms. His comment reflected the token’s unpredictable meme culture, one that thrives on speculation and hype rather than fundamentals.

The surge in JELLYJELLY also highlights how Solana’s meme coin scene continues to stay active, with other projects like Junk.Fun reviving community interest through creative reward models.

Whales move 20% of supply off exchanges

A major catalyst behind JellyJelly’s rally came from large whale wallets.

According to on-chain data and multiple tracking accounts on X, seven wallets withdrew roughly 20% of the total supply from Gate.io and Bitget within four days. These addresses had no prior on-chain history, raising eyebrows about coordinated action.

Shortly after those withdrawals, the token’s price spiked over 600%, briefly reaching a $400 million market cap before correcting. Analysts suspect that this sudden outflow from centralized exchanges created a liquidity squeeze, fueling the price rally.

Whale trader ‘3AWDTD’ makes over $1M profit

This legendary trader 3AWDTD has finally claimed victory after holding $JELLYJELLY for 9 months!

He spent $450K to buy 5.91M $JELLYJELLY 9 months ago.

With the recent surge, he sold 2.91M $JELLYJELLY for $813.5K and still holds 3M $JELLYJELLY($698.7K) — totaling a $1.06M… https://t.co/N1rF3EKRu2 pic.twitter.com/sy13FzTXB3

— Lookonchain (@lookonchain) November 5, 2025

Adding to the frenzy, one well-known Solana whale ‘3AWDTD’ claimed victory after holding JELLYJELLY for nine months.

As per on-chain data and X reports, he spent $450,000 to buy 5.91 million JELLYJELLY, and recently sold 2.91 million of them for $813,500, still holding 3 million tokens worth another $698,000. That’s a $1.06 million profit in total.

This trader isn’t new to meme-coin success. He reportedly made $28.4 million on TRUMP, $7.7 million on PNUT, and $6.36 million on MELANIA, all viral Solana-based meme tokens.

Leverage and liquidations add fuel

The pump didn’t just happen on spot markets.

On November 3, Aster Exchange launched JELLYJELLY perpetual contracts with up to 5x leverage, attracting high-risk traders. As prices shot up, short positions worth $13 million were forcibly liquidated, a clear sign that many bet against the rally and got wiped out.

Traders on X accused whales of manipulating prices by triggering stop-loss orders and spoofing buy walls, tactics often seen in smaller markets. 

What’s next for JellyJelly?

For now, JellyJelly remains one of the few bright spots in a red market. But the situation is volatile. Liquidity data from Dexscreener shows a sharp uptick in trading volume, crossing $100 million, while the fully diluted valuation (FDV) sits near $230 million.

Should whale accumulation remain a theme, combined with retail FOMO, JELLYJELLY could test even further highs. However, corrections can be as violent as rallies. That said, a strong fundamentals determine the strength of moves. Investors should keep a close eye on wallet movements, leverage, and exchange listings.

In meme coin land momentum rules the game, but it seldom lasts for long. In meme-coin land, momentum rules but it rarely lasts long.

Conclusion

So, why is JellyJelly pumping while the market is dumping? The short answer: whales, leverage, and timing. Large holders moved huge chunks of supply off exchanges, derivatives activity spiked, and one lucky trader turned patience into a million-dollar win.

But for every winner, there’s usually a crowd of latecomers chasing the pump. As the rest of the crypto market battles fear, JellyJelly’s run is a reminder that meme coins still thrive on chaos, not logic.

At the time of writing, JELLYJELLY is trading at around $0.2216, supported by a 24-hour trading volume of over $477 million and a market capitalization of approximately $221 million, according to data from CoinMarketCap.

Disclaimer:

This article is for informational purposes only and should not be taken as investment advice. Cryptocurrency investments are volatile and can result in total loss. Always conduct your own research before investing.

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