WhiteWhale Market Cap Soars
According to GMGN tracking data, WhiteWhale, a meme coin on the Solana network, has seen its market cap exceed $120 million recently. The token is currently trading at around $0.127, with a 24-hour price surge of 12% and trading volume reaching $4.9 million.
Whale's Position Shows $18.1M Profit
Records show the prominent trader known as The White Whale holds approximately $56 million worth of tokens, accounting for 56.6% of the total supply. Based on current valuations, this position has generated unrealized gains exceeding $18.1 million, representing a 29% return, with no signs of profit taking.
Community-Originated to Official Adoption
Initially created by fans using the avatar of well-known trader The White Whale on X and Hyperliquid platforms, the token was later officially adopted by the trader himself who began accumulating significant holdings. Notably, this digital asset lacks any fundamental use cases or intrinsic value proposition.
Caution Advised for Investors
Investors should be aware of the extreme volatility associated with meme coins. These assets often derive value purely from market sentiment and social media hype rather than traditional utility or financial metrics, requiring careful risk assessment before participation.