As a seasoned crypto investor with a decade of experience under my belt, I must admit that the current surge of just a chill guy (CHILLGUY) is a rollercoaster ride that I can’t help but be captivated by. The memecoin market has seen its fair share of ups and downs, from the Doge craze to the recent celebrity token frenzy, and now, CHILLGUY seems to be the next big thing.
A Solana-backed meme coin has taken center stage in the cryptocurrency market after skyrocketing by more than 80% in just seven days, reaching a market capitalization of over $600 million. Following its impressive run, this new sensation on the internet is gaining traction and has now secured listings on two major exchanges.
Just A Chill Rise To $0.65
Over the past several months, there’s been a surge and decline of numerous meme-based cryptocurrencies during this current cycle, with events like the Celebrity token craze and the recent Pump.fun Livestream drama leading to questions about their impact on the market as a whole.
Regardless of the negative feedback, there’s an ongoing surge of new digital tokens. Some of these have even skyrocketed to significant heights within only a few days. The most recent meme coin phenomenon, known as CHILLGUY, has sparked quite a frenzy, propelling the token up by an impressive 80% in just one week.
The cryptocurrency is based on a viral TikTok meme of a smirking dog in a laid-back pose dressed in casual clothing. The original drawing was created by Philip Banks in 2023 and has been slowly gaining popularity on social media platforms.
The meme also became viral on X and Instagram, with several reimaginations of the ‘Chill Guy’ flooding people’s timelines. Amid the meme’s popularity boost, crypto investors created a token inspired by the internet sensation.
On November 20th, the meme propelled the token’s impressive surge of 400%, pushing its value up to $0.44 within a day. Yet, following the announcement that Banks intended to sue the token over copyright issues, its price experienced a brief dip, decreasing by approximately 30%.
After that, the memecoin has experienced a significant jump of approximately 50% and reached its highest point ever (all-time high or ATH), setting two new peak prices in the past day. On Tuesday afternoon, the token touched $0.56, then climbed an additional 20% to attain its current all-time high of $0.65 in the early hours of Wednesday.
The cryptocurrency hit a market capitalization of $657 million before retracing below $600 million, sitting as the eighth-largest Solana-based memecoin.
Memecoin Sensation Scores Major Listings
As a crypto investor, I’ve noticed an escalating buzz surrounding this token, and it seems that the hype is largely driven by the viral appeal of a popular meme and the backing of influential public figures. Just a week ago, President Nayib Bukele of El Salvador, known for his pro-Bitcoin stance, shared the “just a chill guy” meme, coinciding with Bitcoin trading above $94,000 for the first time ever.
Furthermore, well-known YouTube personality Mr. Beast declared that the viral internet phenomenon could be the “most significant meme of our era” following Twitch streamer Ninja posting his own rendition of the meme on a Tuesday.
Further boosting its popularity, several prominent cryptocurrency exchanges have recently decided to list the latest sensation in memecoins. Specifically, Bybit included CHILLGUY in their Spot trading section on November 26, while Binance plans to offer perpetual contracts with up to 75x leverage on their Futures platform starting from November 27.
In the midst of the buzz surrounding CHILLGUY, I found myself reaping an impressive profit of over $6 million from this token. According to the insights provided by on-chain data analytics firm Lookonchain, a shrewd crypto trader invested just 0.75 SOL, equivalent to approximately $160, to secure a massive haul of 12.5 million CHILLGUY tokens.
In the span of twelve days, this trader has amassed 9.2 million tokens, translating to a profit of $6.1 million according to Lookonchain’s latest report. Some members in the community speculate that if the cryptocurrency maintains its swift expansion, it could surpass other popular meme coins such as Dogwifhat (WIF) and Popcat (POPCAT) within a week.
Yet, it’s uncertain if the token will maintain its present pace or turn out to be just a fleeting success in the world of cryptocurrency. As we stand now, CHILLGUY is trading at $0.59, marking a 23.3% rise within a day.
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2024-11-28 11:48