The $WHITEWHALE story is one of the more interesting plays in the Solana ecosystem this cycle.

Launched in late 2025, this meme coin skyrocketed to nearly $200M in market cap—but the project's backstory is what really grabbed attention. It's based on a real perpetuals trader, @TheWhiteWhaleV2, who made waves on Hyperliquid as a known whale player. The kind of trader whose moves get watched and discussed across the derivatives trading community.

Then things got spicy. MEXC, one of the major platforms, froze approximately $3M in related funds—and that's when public tensions between the trader and the exchange started playing out for everyone to see. It wasn't just a quiet backend issue; it became the kind of drama that defines certain market cycles.

So what you're looking at here is a real trader with genuine Hyperliquid credentials turning into a meme coin narrative, complete with exchange friction and community intrigue. The $200M+ valuation tells you people are paying attention to the backstory, not just the token ticker.