A trader with a wallet that has been linked to a user that goes by “Remusofmars” on X has been gaining popularity in memecoin circles for making a trade that helped him turn an initial buy of about $370 worth of $WHITEWHALE tokens into massive unrealized gains, which peaked at over $1.2 million in value while holding most of the position.
The $WHITEWHALE token is a memecoin project linked to a high roller trader who had gotten into a beef with MEXC because of what he alleged were predatory practices.
Remus was able to spot the potential of the token linked to the trader and bet on it, holding the amount he invested even as the token went parabolic.
How did the trader turn $370 into $1.2 million?
According to Arkham, since the token hit a $150 million market cap, he has cashed out a total of $220,000, and is still holding $987,000 of it.
However, he is not the only one who has made life-changing money from the token, according to data from BubbleMaps. The token has maintained its high market cap and is currently trading at a market cap of $149 million, as at the time of this writing.
Despite the Whitewhale character the token was modeled after has revealed the trader is not a member of the team, people still suspect he could be an insider.
The wallet in question reportedly invested a total of $60,000, making him the second-largest holder before the token was taken over by the Whitewhale KOL/trader. The investment has now snowballed into $2,500,000, and the wallet has become active after weeks of inactivity, selling $1,000,000 of $WhiteWhale within 15 minutes while sitting on the remaining 2.5%.
The Whitewhale has responded publicly to speculation about the wallet, acknowledging that he and his team have been tracking it and have tried to reach out, expressing interest in an OTC deal to facilitate responsible selling to prevent dumps.
“It would have been impossible for it to have been an insider as on the 4th December I didn’t even know I was going to do a CTO,” the Whitewhale wrote on X. He also claimed that team members of the token did not come onboard until after he took over and that the current team is made up of mostly volunteers who are not holding the token.
All efforts to engage the whale behind the wallet have not been fruitful, and now, everybody wants to know what they plan to do next and who they might be.
But the Whitewhale has expressed confidence in having enough liquidity to absorb any sell pressure the wallet may trigger in the event they plan to sell more.
How did the $WHITEWHALE meme token start?
The $WHITEWHALE token was created in October 2025 by a random dev who allegedly kept putting out racist content that irked the KOL it was inspired by. The lore around the token was tied to the beef between MEXC and the KOL, which started after the exchange froze around $3 to $5 million in funds from his account in July 2025.
The exchange cited vague reasons like “risk control” violations, claiming he had used bots/APIs after noting he had placed two orders in the same second, an allegation he denied, saying he did it manually.
He tried to reach out to the CEX’s support but received no response. Instead, he alleged he was being pressured to admit wrongdoing to get his funds released, and this ultimately escalated into a public tussle that lasted months.
The story went viral on X as he provided receipts and launched a massive campaign with help from his community, including over a $2 million bounty/NFT POAP support drive that drew lots of eyes.
Famous crypto sleuth, ZachXBT amplified the campaign, sparking FUD against MEXC, and in October/November 2025, MEXC’s CSO Cecil’s Hsueh publicly apologized, releasing the funds and promising reform.
The Whitewhale distributed a lot of the released funds to those who supported the campaign as well as charities, which cemented his hero vs shady CEX reputation in the meme trenches and led to the creation of the $WHITEWHALE token as a symbol of resilience against crypto predators and a tribute to his rare victory over a CEX.
The token remained low for weeks, but on December 7, 2025, after it attracted hype, the KOL conducted a community takeover, mostly to stop what the dev was doing and to ensure it would not run and ruin his reputation. The move made the token surge 90x to a $90 million market cap, and it has continued to do great numbers ever since.
