Original title: What Is Chill Guy? The Viral TikTok Meme Already Making Crypto Traders Millions

Source: Decrypt

Original compilation: Mary Liu, BitpushNews

MEME track once again sees the k-fold myth of getting rich quick.

Just a Chill Guy - This internet memes that has gone viral on Tiktok (overseas version of Tiktok) has been brought on-chain by people in the cryptocurrency community, and its market capitalization has surpassed $500 million in just a few days.

MEME smart money makes a fortune from it, and one player even earned over 1 million dollars in less than a week with an initial cost of 1000 dollars.

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. The anthropomorphic figure is dressed in a hoodie, jeans, and sneakers, with hands in pockets, exuding a relaxed and calm expression.

This character has become popular on Tiktok, loved by post-00s, and has become 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 soared from $10 million on Monday to $4.88 billion at the time of writing. On-chain data shows that a lucky trader seized the opportunity, making over a million dollars in profit with just over $1000 investment.

The wallet holder starting with '9zW' invested $233.89 when CHILLGUY just launched Pump.fun. At that time, the coin's market capitalization was slightly less than $11,000. Over the next 30 hours, the coin experienced a big pump of over 38,800%, reaching a market capitalization of around $4.4 million. During this period, the trader cashed out for the first time through four transactions, totaling $16,200.

In the next few days, the coin experienced a brief pullback before pumping again, but only up 180% from the previous peak. During this period, the trader added $867.35 to his investment through three trades, bringing his total cost to about $1,101.24, although much of it may have come from his initial profits.

Tiktok is not primarily a platform for Crypto Assets, but CHILLGUY's breakout has convinced many traders that new users are entering the Crypto Assets field - perhaps it is true.

On Tuesday, the start of CHILLGUY's surge, a spokesperson for MoonPay told Decrypt that it was a day when Solana volume reached a historical high, which means that more people than ever are using its services to inject funds into the Solana ecosystem.

With a large influx of new investors, CHILLGUY experienced a big pump on Tuesday and Wednesday, and its market capitalization soared from $11.5 million to $488 million, an increase of over 4,000%.

In the past two days, this lucky trader has continued to dump some of their Holdings. As of the time of writing, according to DEX Screener's data, the Wallet has already dumped CHILLGUY worth $411,500, while the account still holds nearly $700,000 worth of CHILLGUY.

This makes the total unrealized earnings of the Wallet exceed $1.05 million. However, due to the volatile nature of the meme coin market, this part of the earnings has not been secured. Once the market sentiment changes, these floating profits may drop to zero instantly.

In addition to CHILLGUY, the Wallet also holds over $100,000 in Derivatives, as well as $13,700 in AI meme coin Goatseus Maximus (GOAT).

However, despite the token's popularity, its creator does not want to ride on the hype. He wrote on Twitter: “I do not support / agree that my artwork be used for anything related to cryptocurrency. Please don't bother me again.”

Afterwards, he set his Twitter account to private to avoid DM harassment.

Nonetheless, there are still some so-called 'tribute' Non-fungible Token series for CHILLGUY, 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) referred to as 'flopcoin' by Banks (because the coin's market capitalization failed to break $100,000 at first, but later soared to $10 million).

So, have you played MEME?

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