A Trader Spent 370 US Dollars to Buy WHITEWHALE, Currently Sitting on Over 1.2 Million US Dollars in Profit

An investor spent just $370 to purchase WHITEWHALE in early December, turning it into a position now valued at over $1.2 million. The Solana-based token surged 134% in the past week, peaking near $0.2018 on January 11.

The move came amid renewed investor interest in meme coins, with tokens like Dogecoin and Pepe also rising sharply. WHITEWHALE's rally was fueled by retail participation and its listing on spot and derivatives markets.

The token's narrative centers around a trader known as The White Whale, whose legal dispute with MEXC earlier in 2025 boosted his profile among crypto retail investors. The incident, which involved the exchange briefly freezing The White Whale's account over a $3 million dispute, ended with MEXC issuing a public apology and releasing the funds.

Why Did This Happen?

The rapid appreciation of WHITEWHALE reflects broader momentum in the meme coin sector. After a wave of failures in 2025, the market rebounded in early 2026, with the sector's market capitalization rising from $38 billion to nearly $48 billion.

WHITEWHALE's recent move was also supported by a derivatives listing, which increased liquidity and attracted speculative activity. The token briefly reached a $200 million market cap in mid-January but has since pulled back to around $176 million as volume and momentum indicators have softened. According to analysis, this shift reflects broader market dynamics.

How Did Markets React?

Whale activity has been a key driver of uncertainty. On January 12, one whale account sold 5.37 million tokens for about $912,000, trimming its position despite still holding 25 million tokens valued at $4.24 million.

The token's market capitalization touched $200 million for a brief period, but trading volume dropped after the peak. This raised questions about the sustainability of the rally, as extended consolidation often precedes a breakdown or continuation of the trend.

Traders are now watching whether bulls can defend key support levels and whether whale activity will moderate. Market analysis suggests that a continuation of profit-taking could signal weakening conviction, while renewed buying pressure might indicate a shift in sentiment.