The on-chain meme coin WhiteWhale (WHITEWHALE) on Solana has recently experienced significant volatility. After its market capitalization briefly fell to a low of approximately $52 million yesterday, it has rebounded rapidly. As of press time, its market capitalization has recovered to approximately $95 million, with a current price of around $0.095, representing a 42% increase in the last 24 hours, and a trading volume of approximately $3.5 million during the same period.
WhiteWhale tokens were launched on the Solana blockchain via the Pump.fun platform on October 13, 2025, with a fixed total supply of 1 billion tokens. It adopted a community-driven model and had no venture capital backing. The token briefly surpassed a market capitalization of $100 million in late 2025 and early 2026, before experiencing a significant correction.
"Whale" trader: 57.6% position, total profit exceeds $20 million.
The core narrative of the WhiteWhale token comes from a legendary high-leverage trader known as "The White Whale." On-chain data shows that this trader currently holds positions worth approximately $50 million, representing 57.6% of the total supply, with a current unrealized profit of approximately $900,000 (21%), and a total accumulated profit of $20.2 million.
This trader rose to fame due to a public dispute with the centralized exchange MEXC in mid-2025. MEXC froze approximately $3 million in his account, accusing him of using automated bots for high-frequency trading. "WhiteWhale" subsequently offered a $2.5 million reward for evidence of misconduct and received public support from on-chain detective ZachXBT. Under sustained pressure from the community, MEXC eventually issued a public apology and unfroze the funds. This incident also spurred the creation of the WhiteWhale meme coin.
Highly concentrated holdings pose significant risks.
It is worth noting that WhiteWhale's holdings are extremely concentrated, with "WhiteWhale" alone controlling nearly 60% of the token supply. On January 20, 2026, a major shareholder sold approximately $1.3 million worth of tokens, triggering a price crash of up to 60%, with the market capitalization falling from approximately $200 million to between $20 million and $40 million.
Please note that memecoin trading is highly volatile and largely driven by market sentiment and hype. Investors must carefully assess the risks before investing.
