Source: Decrypt
Compiled by: BitpushNews Mary Liu
The myth of getting rich a thousand times is seen again in the meme track.
Just a Chill Guy – This emoticon package that is popular on Tiktok (the overseas version of Douyin) was moved to the chain by people in the cryptocurrency circle, and its market value exceeded US$500 million within a few days.
The meme smart money made a fortune from it. One player even made more than $1 million in less than a week with an initial cost of $1,000.
Just a Chill Guy (CHILLGUY) is a meme coin based on the Solana blockchain. It is a character created by artist Phillip Banks in 2023. This anthropomorphic image is dressed in a sweatshirt, jeans and sneakers, with his hands in his pockets, with a "relaxed and calm" expression.
This character became popular on Tiktok, which is loved by the post-00s, and became the "spiritual totem" of the new generation of young people, representing a "Buddhist, relaxed" attitude towards life.
In just a few days, CHILLGUY’s market cap has soared from $10 million on Monday to $488 million at the time of writing. On-chain data shows that one lucky trader seized the opportunity and made more than $1 million in profits with just over $1,000 in investment.
The wallet holder with the prefix "9zW" invested $233.89 in CHILLGUY when it was first launched on Pump.fun. At the time, the market value of the coin was just under $11,000. In the next 30 hours, the coin skyrocketed by more than 38,800%, reaching a market value of about $4.4 million. During this period, the trader cashed out for the first time in four transactions, $16,200.
In the following days, the coin experienced a brief pullback before rising again, but the increase was only 180% of its previous peak. During this period, the trader invested an additional $867.35 through three transactions, which brought his total cost to approximately $1,101.24, although most of this may have come from his initial profits.
TikTok is not a cryptocurrency-focused platform, but the explosion of CHILLGUY has led many traders to believe that new users are joining the cryptocurrency space—which may be true.
On Tuesday, the start of the CHILLGUY rally, a MoonPay spokesperson told Decrypt that it was a record day for Solana transaction volume, meaning more people than ever before were using its services to inject funds into the Solana ecosystem.
CHILLGUY surged on Tuesday and Wednesday as a flood of new investors poured in, with its market value soaring from $11.5 million to $488 million, an increase of more than 4,000%.
Over the course of two days, the lucky trader continued to sell off some of his holdings. As of writing, the wallet has sold off $411,500 worth of CHILLGUY, according to DEX Screener, while the account still holds nearly $700,000 worth of CHILLGUY.
This brings the total unrealized gains of the wallet to more than $1.05 million. However, due to the volatile market of meme coins, this part of the gains has not yet been pocketed. Once the market changes, these floating gains may be reduced to zero in an instant.
In addition to CHILLGUY, the wallet also holds more than $100,000 in derivatives, and $13,700 in the AI meme coin Goatseus Maximus (GOAT).
However, despite the popularity of the token, its creator does not want to take advantage of the popularity. He wrote on Twitter: "I do not support/agree with my art being used for anything related to cryptocurrency. Please stop bothering me."
He then set his Twitter account to private to avoid private message harassment.
Despite this, there are still some so-called "tribute" CHILLGUY NFT series launched, one of which has a minimum price of 3 SOL (about $700). In addition, a large number of derivative meme coins have also been launched, including other character tokens created by Banks, such as Worried Guy (WORRIEDGUY), which Banks called a "flopcoin" (because the market value of the coin failed to break through $100,000), but later soared to $10 million.
So, do you play memes?
