Whales Market Token Surges 30% After Releasing Memecoin Launchpad

Whales Market, the trustless OTC platform for buying and selling airdrop points, has unveiled its newest product, whales.meme, a no-code platform for launching memecoins on Solana.

Following the release, the official Whales Market token, $WHALES, soared 25%, reaching a fully diluted valuation (FDV) of $97 million.

Whales.meme functions similarly to Pump.Fun, where users can create and launch memecoins with no coding experience and a nominal deployment fee. However, instead of buying tokens directly as on Pump.Fun, users buy “eggshells” on whales.meme.

There are 200 eggshells per project, and each eggshell represents 0.5% of each token’s supply. Prices increase along a bonding curve as more eggshells are purchased, and the 200th and final eggshell acts as the token’s listing price on decentralized exchanges (DEXs) like Raydium.

Once the 200th eggshell is sold, the funds from the eggshell sales serve as liquidity for the DEX listing, and users can claim their token allocations based on their eggshell holdings.

The launch comes as some market participants have been looking for an alternative to Pump.Fun following the platform’s exploit on May 16.