Despite the token's explosive popularity, its creator does not want to ride the wave.
Source: Decrypt
Translation: BitpushNews Mary Liu
The meme track has once again seen a myth of making a thousand times profit.
Just a Chill Guy – this meme that has gone viral on TikTok (the overseas version of Douyin) has been brought to the blockchain by crypto enthusiasts, and within days, its market value surpassed $500 million.
Smart money in the meme space has made a fortune from it, with one player turning an initial investment of $1,000 into over $1 million in less than a week.
Just a Chill Guy (CHILLGUY) is a meme coin based on the Solana blockchain, created by artist Phillip Banks in 2023. The character is depicted as a person wearing a hoodie, jeans, and sneakers, with hands in pockets and a "chill and relaxed" expression.
This character has gone viral on TikTok, beloved by Gen Z, becoming a "spiritual totem" for a new generation, representing a lifestyle of "Buddhist-like, relaxed" attitude.
In just a few days, CHILLGUY's market value skyrocketed from $10 million on Monday to $488 million at the time of writing. On-chain data shows that a lucky trader seized the opportunity, turning an investment of just over $1,000 into a profit of over $1 million.
A wallet holder starting with "9zW" invested $233.89 when CHILLGUY first launched on Pump.fun. At that time, the coin's market value was just below $11,000. In the next 30 hours, the coin surged by over 38,800%, reaching a market value of about $4.4 million. During this period, the trader cashed out $16,200 through four transactions.
In the following days, the coin experienced a brief pullback before rising again, but the increase was only 180% of the previous peak. During this time, the trader added another $867.35 investment through three transactions, bringing his total cost to about $1,101.24, most of which likely came from his initial profits.
TikTok is not primarily a platform for cryptocurrency, but the explosion of CHILLGUY has led many traders to believe that new users are entering the cryptocurrency space—perhaps it is true.
On Tuesday, as CHILLGUY began to surge, a spokesperson from MoonPay told Decrypt that it was a record day for Solana trading volume, indicating that more people than ever are using its services to inject funds into the Solana ecosystem.
With a large influx of new investors, CHILLGUY skyrocketed on Tuesday and Wednesday, with its market value soaring from $11.5 million to $488 million, an increase of over 4,000%.
In two days, the lucky trader continued to sell off part of his holdings. As of the time of writing, according to DEX Screener data, the wallet has sold $411,500 worth of CHILLGUY, while still holding nearly $700,000 worth of CHILLGUY.
This has brought the wallet's total unrealized gains to over $1.05 million. However, due to the extreme volatility of the meme coin market, these gains have not yet been secured. Once the market sentiment shifts, these unrealized profits could vanish in an instant.
In addition to CHILLGUY, the wallet also holds over $100,000 in derivatives and $13,700 in the AI meme coin Goatseus Maximus (GOAT).
However, despite the token's explosive popularity, its creator does not want to ride the wave. He wrote on Twitter: "I do not support / agree with my artwork being used for anything related to cryptocurrency. Please stop bothering me."
He then set his Twitter account to private to avoid direct message harassment.
Nevertheless, some so-called "homage" NFT series to CHILLGUY have been launched, with one of them having a minimum price of 3 SOL (about $700). Additionally, a large number of derivative meme coins have been released, including tokens of other characters created by Banks, such as Worried Guy (WORRIEDGUY), which Banks referred to as "flopcoin" (because its market value failed to exceed $100,000), but later surged to $10 million.
So, are you playing with memes?
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