The real way to exit liquidity is selling $650,000 without the candlestick chart even flinching. What does it mean for a whale to exit? I think the case of $PONS is especially worth studying. @AvgJoesCrypto is publicly visible as one of the top five holders of $PONS. For over a week now, he’s been slowly selling using TWAP, with each transaction around $1,000–$2,500. It’s estimated that he’s cashed out approximately $650,000 in total. The chart has barely been affected, and the market hasn’t shown any panic about a 'top five whale running away.' This is the proper way for large positions to exit. When the market is rising and there’s fresh buying interest, feed your tokens to the market bit by bit, instead of waiting until everyone wants to run and then crashing the pool with one big sell-off. You get your profits, the project gets turnover, and the newcomers don’t suddenly become your bag holders. What’s even more interesting is that after selling off hundreds of thousands of dollars, he still holds millions of dollars worth of $PONS and remains one of the top five holders. For large positions, buying is just the first step. What truly determines how much you’ll make in the end is whether you can quietly exit your position when the market is most willing to absorb it. Small funds study entry points; large funds must study exit strategies. Many people have seen their portfolios grow by millions on paper, but didn’t walk away with much in the end. The problem lies right here.