Certainly one of many "Just a chill guy" memes circulating on Twitter. Picture: Phillip Banks
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A crypto token based mostly on a viral TikTok meme has gone parabolic, touching a $500 million market cap simply days after launching. Savvy meme coin merchants are raking in thousands and thousands from the launch—together with one who turned a $1,000 funding into over $1 million in lower than every week.
Only a Chill Guy (CHILLGUY) is a Solana meme coin that makes use of a personality created by artist Phillip Banks in 2023 as its mascot. The anthropomorphic character wears a sweatshirt, denims, and sneakers, along with his fingers tucked in his pockets—only a fairly chill-looking dude.
This character has appeared to go viral on Gen Z-favored social media platform TikTok, as customers couple the character with a caption about males simply being “chill guys” regardless of the hardships of their lives—nonetheless massive or small.
As such, the token has soared from a $10 million market cap on Monday to $488 million on Wednesday. With this, one lucky trader has rode the wave, potentially profiting $1 million from just over $1,000.
Wallet 9zW first threw $233.89 at CHILLGUY while it was still on meme coin launchpad Pump.fun. At that moment, the token was at a market cap just shy of $11,000. Over the coming 30 hours, the token pumped over 38,800% to a market cap of approximately $4.4 million. During this period, the trader cashed out their first $16,200 over four transactions.
Over the next day, the coin retraced before pumping again, albeit marking only a 180% increase from its previous high. During this period, the lucky trader invested an additional $867.35 in CHILLGUY across three transactions. This brings the total invested to approximately $1,101.24, albeit the majority of this was likely taken from the trader’s preliminary earnings.
TikTok isn’t generally known as being a crypto-native platform, and the success of CHILLGUY has led many merchants to imagine {that a} new viewers is becoming a member of crypto. And this can be true.
On Tuesday, the beginning of CHILLGUY’s massive pump, a MoonPay consultant instructed Decrypt it was the on-ramp service’s largest single day for Solana transactions. Which means extra individuals had been utilizing the service to place cash into the Solana ecosystem than ever earlier than.
With this obvious inflow of latest buyers, CHILLGUY skyrocketed on Tuesday and all through Wednesday from a $11.5 million market cap to $488 million—a greater than 4,000% improve.
Over these two days our fortunate dealer continued to promote chunks of their holdings. On the time of writing, the pockets has offered $411,500 price of CHILLGUY, in line with DEX Screener, whereas $636,942 price of the token stays within the account.
This brings the wallets complete unrealized positive aspects to over $1.05 million. It’s price noting that the remaining $636,942 price of CHILLGUY might drop in worth instantly; the fortunate dealer should promote these tokens to ceaselessly think about themselves a “Millionaire Chill Guy.”
Except for CHILLGUY, the pockets holds over $100,000 price of derivatives of the token that the pockets hit massive on, in addition to $13,700 in AI meme coin Goatseus Maximus (GOAT).
Individually, Arkham Intelligence posted Wednesday about one other dealer who appeared to run up an $865 preliminary funding to a peak of $6.4 million. Nevertheless, a consultant from on-chain information visualization startup Bubblemaps instructed Decrypt that the pockets in query doesn’t seem like a "lucky trader," however maybe a "way more sophisticated" effort involving buying and selling bots.
However regardless of the token’s success, the artist behind the character isn’t glad. On Twitter, Banks wrote, “I don't endorse or consent to my art being used to any crypto related things. Please leave me alone.” He later put his Twitter onto non-public so customers might not harass him.
Regardless of the pushback, quite a few Chill Guy tribute NFT collections have launched—one among which has a 3 SOL ($700) flooring. And numerous spinoff meme cash have launched, together with tokens of different characters created by Banks, comparable to Nervous Guy (WORRIEDGUY) that Banks known as a “flopcoin,” because it failed to interrupt a $100,000 market cap on the time.
It has since reached a peak market cap of $10 million.
Edited by Andrew Hayward
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