Owing to the volatility often seen in the Solana meme coin market, survival itself is rare. Yet The White Whale (WHITEWHALE), a token born on Pump.fun launchpad in late 2025, has defied the odds.
WHITEWHALE has endured a violent sell-off, accusations of a rug pull, and relentless scrutiny from traders and analysts alike.
WHITEWHALE’s Wild Price Swings and the Origins of Its Meme Narrative
As of this writing, WHITEWHALE is trading at $0.089, with CoinGecko data showing a market capitalization of $89.6 million.
While the broader crypto market is down, the White Whale token posted a 180% gain over the last two weeks. This reflects just how extreme its price swings have been.
WHITEWHALE Token Price Chart. Source: CoinGeckoSponsored
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The WHITEWHALE meme coin launched in October 2025, inspired by X (Twitter) persona @TheWhiteWhaleV2, a well-known perpetuals trader remembered for an infamous $80 million liquidation.
The token had no roadmap, no promised utility, and no known founder, just a meme narrative and a fixed supply of nearly 1 billion tokens, as outlined in early community posts on Medium.
Concerned that scams using his likeness could damage his reputation, @TheWhiteWhaleV2 stepped in. By December, he had bought tokens, added liquidity, and helped coordinate a community takeover (CTO).
Pump.fun fees were redirected back to holders, and treasury activity was made public, an unusual move in Solana’s meme-heavy trenches.
But who ultimately controls the WHITEWHALE treasury today?
Early participants were rewarded handsomely, with reports highlighting cases where traders turned a few hundred dollars into over $1 million.
However, the same trader, Remus on X, lost almost all those gains a week later after cashing out only $220,000.
How Retail Revenge Sent WHITEWHALE Vertical
Momentum exploded in early January 2026. From a December low of $0.0082, the WHITEWHALE price surged nearly 930% to briefly test $0.20, per CoinGecko.
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Its market cap crossed $200 million, making it one of the most successful Pump.fun launches in months, according to Messari.
WHITEWHALE Metrics. Source: MessariListings on exchanges including Bybit, MEXC, KuCoin, and LBank fueled volume spikes of up to $48 million in 24 hours.
On X, traders framed WHITEWHALE as “retail revenge,” a cultural pushback against bots, snipers, and insider-driven meme launches.
Then came the collapse.
Rug or Liquidity Event? Inside WHITEWHALE’s January 20 Crash
On January 20, 2026, a top holder sold roughly $1.3 million worth of tokens, triggering a rapid 60% price drop.
Market cap estimates fell from around $200 million to $20–40 million, sparking a social media eruption with claims of a rug pull.
While headlines labeled the event a rug pull, on-chain analysts using Bubblemaps traced the sell-off to a single major wallet, separate from Remus.
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The team pushed back, calling it a “liquidity event” rather than an exit scam, but confidence was already shaken.
BeInCrypto asked The White Whale why this level of concentration had persisted despite the project’s anti-whale narrative. He replied that the project follows the core ethos of crypto: permissionless finance. He emphasized that traders should be allowed to do what they want.
Most importantly, The White Whale refuted claims that a single wallet’s sell-off caused the overall crash. According to him, it triggered a panic-selling cascade.
Recovery Fueled by Locks, Shadowed by Control
Against expectations, the WHITEWHALE price rebounded. Within days, it posted daily gains of 70%+ and climbed back toward an $80–90 million market cap.
The treasury locked 40 million tokens for a year, reducing the circulating supply and signaling long-term intent, a move confirmed publicly by community figures on X.
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On-chain data cited by Rootsdata suggests that the treasury and associated wallets control a significant share of the supply, reaching over 50%.
The top 10 WHITEWHALE holders collectively own 64.5% (612.6M Tokens) of the total supply. Source: SolscanThat concentration cuts both ways as supporters see it as protection against predatory dumping, while critics warn it leaves the token vulnerable to another sudden collapse.
There is no denying the risks. The WHITEWHALE token has no utility beyond narrative, and price swings of 60% or more remain common. Most traders still expect downside, considering most Solana meme coins eventually fail. But The White Whale himself remains optimistic that the project can inspire good standards for all future tokens.
Yet survival matters. In an ecosystem where many tokens vanish overnight, WHITEWHALE’s ability to recover, paired with transparent treasury actions, sets it apart.
However, it is also deeply risky, driven by whales, narrative, and momentum rather than fundamentals.
| Risk Factor | Details | Impact Level |
| Whale Concentration | 54% in one address | High – Potential for massive dumps |
| Volatility | 60%+ swings weekly | Extreme – Retail wipeouts are common |
| Rug History | January 20 “liquidity event.” | Medium – FUD lingers, but survived |
| No Utility | Narrative-only | High – Relies on hype cycles |
| Community Strength | Transparent locks, redistributions | Mitigating – Builds loyalty |
Therefore, the WHITEWHALE token may not be a scam, a view supported by its trading on major exchanges. It also posts real volume and maintains an active, dedicated community, as noted in exchange support documentation.
As a closing remark, BeInCrypto asked The White Whale what might happen to the token if he decides to step away.
Source: https://beincrypto.com/white-whale-solana-meme-coin-analysis/
