Don't know if this question is meant seriously, but a whale in this context means a big investor/buyer with lots of capital to be invested into a coin.
Could be good, because this often means a massive rise of price, if he gets into a market, as a result of simply buying all the open orders at once, effectively removing a sell wall. But the dark side (of the moon   - at the moment at least) is an unorganic pump of the currency (to sell even more at the higher price than he bought before) only to make a quick profit (pump and dump). This leaves many buyers, that bought while the price was high, with their coins being "overpriced". What we witness at the moment is exactly, that all those high-price buyers have placed their coins on the exchanges, to get at least their entry-price back. This ends up in those massive sell walls. The result of a pump and dump, as it seems. Correct me, if I'm wrong.

Edit: And those who have lost faith in the coin are selling their coins at any price, getting not even their buying-price back, which is lowering the price further - together with the miners that sell their coins almost instantly after they were mined, by cryptsy's autosell-feature.

Edit 2:
BTW: at CoinEx, the price is still at 2 Satoshis.

Edit 3:
Another possibility is, there is a "market maker" (who is maybe (??)  preparing the next pump by placing those immense sell-orders and removing them at the "right" time, to let the price go up). Like said by others: