A new memecoin, CHILLGUY, has taken the crypto world by storm, reaching a staggering $500 million market cap within days of its launch.
Based on the viral TikTok character “Chillguy,” the token has turned ordinary traders into millionaires, demonstrating the explosive potential of meme-driven cryptocurrency projects.
CHILLGUY Price Actions
CHILLGUY, trading at $0.3454 as of today, is inspired by a character created by digital artist Phillip Banks in October 2023.
The character gained popularity through TikTok, where users depicted Chillguy in various amusing and exaggerated situations, staying calm and unbothered no matter the scenario. This viral appeal fueled massive interest in the token, creating a perfect storm for its meteoric rise.
Traders Reap Massive Profits
The rise of CHILLGUY has minted new crypto millionaires almost overnight. According to on-chain analytics platform Lookonchain, one trader turned a $21,000 investment into $2.68 million within just four days.
This trader sold 23.8 million CHILLGUY tokens for $2.24 million after first acquiring 26 million. The 2.25 million tokens they kept are currently worth $459,000.
Another trader reportedly bought 33.95 million CHILLGUY tokens with just 1 SOL, worth $205 at the time. While this holding could have grown to a value exceeding $10 million, the trader sold the tokens prematurely for just 1.6 SOL, equivalent to $349.
Arkham Intelligence also reported about a smart trader who turned $865 into $6.4 million ina few days.
Centralized Exchange Listing Boosts Visibility
Adding to the token’s rapid rise, Crypto.com announced it would list CHILLGUY for spot trading. This marks the token’s first major centralized exchange listing, potentially opening the doors to a broader audience of investors.
Data from Gecko Terminal reveals that CHILLGUY, which was launched two months ago via the platform Pump.fun, already boasts over 81,000 unique holders. Distribution appears relatively decentralized, with the largest holder controlling just 1% of the total supply, according to Bubblemaps data.
While the Chillguy character has been around for over a year, its popularity exploded on TikTok in recent weeks. Thousands of videos showcasing the character’s indifferent and humorous persona have contributed to the token’s viral momentum. This meme-driven hype propelled CHILLGUY’s market capitalization from $11.5 million to $488 million in just two days.
The Memecoin Phenomenon
CHILLGUY’s success reflects the continuing allure of memecoins in the cryptocurrency market. Tokens like Dogecoin and Shiba Inu have demonstrated the power of internet culture and community-driven narratives in driving market activity. With its strong connection to a trending TikTok meme, CHILLGUY appears to be following a similar trajectory.
However, the volatility of memecoins also serves as a reminder for investors to approach with caution. While early adopters have reaped massive rewards, market corrections and rapid sell-offs are common in such speculative projects.