Key Takeaways
- Just a Chill Guy (CHILLGUY) token has seen its market cap hit $500 million following a 20,000% growth in less than a week. The token is based on the popular TikTok meme about an anthropomorphic character created by artist Phillip Banks last year.
- The Solana-based meme coin created on the Pump.fun launchpad has witnessed its market cap rise from $10 million to $488 million in five days. CHILLGUY’s parabolic run has turned many investors into millionaires overnight.
- One trader converted his initial investment of $21,000 in CHILLGUY into $2.68 million after just four days. Currently, 81,000 Solana wallets reportedly hold the meme coin.
- The rising popularity of the cryptocurrency has led to the Crypto.com exchange listing CHILLGUY for spot trading on its platform. Additionally, a number of NFT collections and derivatives tokens based on Just a Chill Guy have been released.
CHILLGUY, a meme coin based on the viral “Chill Guy” TikTok meme has gone parabolic, witnessing a 20,000% growth and that has resulted in its market capitalization hitting $500 million in under a week.
Viral Meme Coin CHILLGUY Achieves All-Time High Market Cap of $500 Million
Just a Chill Guy, or CHILLGUY, is a Solana-based cryptocurrency that uses a cartoon character created by artist Phillip Banks in 2023 as its mascot. The anthropomorphic character wears a sweatshirt, jeans, and sneakers. He sports a calm and pleasant look with his hands tucked in his pockets. Banks described the character as a chill guy who remains oblivious to chaotic situations around him.
The original meme appeared to go viral on TikTok after Gen-Z users began using the character to define men as “chill guys” despite experiencing hardships in their lives. Thousands of videos were uploaded to the social media platform showing Chill Guy in various scenarios where he remains calm and indifferent to the events unfolding around him.
Such is the popularity of the meme and the CHILL GUY token that its market cap has soared from $10 million at the start of the week to $488 million by Wednesday. According to data from Gecko Terminal, the token created two months ago on the Solana-based meme coin launch pad Pump.fun already has over 81,000 holders.
Despite its popularity, the distribution ratio among CHILLGUY holders is relatively even, with its largest holder owning just 1% of the total supply. However, there is a massive disparity between its $5 million liquidity and $440 million market cap.
Early Investors In CHILLGUY Return Massive Profits
The meme coin’s tremendous rise has helped change the fortunes of several traders, who turned millionaires overnight. One trader, called “9zW”, invested $233.89 in CHILLGUY while it was still on the Pump.fun launchpad. At the time, the token’s market cap was just shy of $11,000.
CHILLGUY then went on a 30-hour rampage where its value pumped by over 38,000% to a market cap of approximately $4.4 million. During this time, the trader cashed out $16,200 over four transactions.
The next day, the coin retraced before surging once again, marking a 180% increase from its previous high. At this point, the shrewd trader invested an additional $867.35 in CHILLGUY across three separate transactions. He put in a total of $1,101 in the meme coin, albeit a majority of this share was taken from his initial profits.
Blockchain analytics firm Lookonchain reported another case where a trader turned a $21,000 investment into $2.68 million in just four days. The trader purchased 26 million CHILLGUY and sold 23.8 million tokens for $2.24 million. They have kept the remaining 2.25 million tokens in their wallet, valued at $459,000.
When CHILLGUY kickstarted its pump on Tuesday, a representative for MoonPay told media outlets that it was the fiat-to-crypto on-ramp service’s biggest single day for Solana transactions. Meaning, that more people were using the platform to deposit money into their Solana wallets than ever before.
As new investors flocked in masses, CHILLGUY skyrocketed on Tuesday and throughout Wednesday from a market cap of $11.5 million to $488 million, signifying a more than 4,000% increase.
Over those two days, the trader continued to sell chunks of his 2.25 million CHILLGUY stash. According to DEX Screener, the wallet has sold $411,500 worth of the token, while holding on to $636,942 worth.
The wallet’s total unrealized gains currently stand at $1.05 million. However, there is a big chance that the remaining CHILLGUY tokens could drop in value drastically, so the trader must sell them off to be considered a “Millionaire Chill Guy”.
On Wednesday, Arkham Intelligence reported on another trader who appeared to turn an initial investment of $865 into $6.4 million. However, it was later revealed that the wallet in question was not a “Chill Guy”, but a way more sophisticated effort involving trading bots.
Crypto.Com Lists CHILLGUY For Spot Trade
Leading crypto trading platform Crypto.com has announced that it would list CHILLGUY for spot trading, marking the meme coin’s debut on a major centralized exchange. Meme coin enthusiasts are expecting additional exchange listings, further boosting its valuation.
Furthermore, several Chill Guy-themed NFT collections have also been launched, with one of them trading at a floor price of 3 SOL, approximately $700. Countless derivative coins based on the Chill Guy meme have also been released, including tokens themed around other comic characters created by Banks, such as the Worried Guy (WORRIEDGUY).
While WORRIEDGUY initially failed to break a valuation of $100,000, it has since managed to hit a peak market cap of $10 million.
TikTok isn’t known to be a crypto-centric platform, but the overnight success of the Chill Guy meme and the CHILLGUY token has led many to believe that a new group of enthusiasts has entered the vibrant crypto market.
At the time of writing, CHILLGUY is trading at $0.4096 – up 4.3% in the last 24 hours. The cryptocurrency currently has a market capitalization of $405.32 million.
