Source: Decrypt
Compiled by: Bit Push News Mary Liu
The meme track has seen another story of a thousandfold surge in wealth.
Just a Chill Guy - this expression pack that has gone viral on Tiktok (the overseas version of Douyin) has been brought to the blockchain by the crypto community, with its market value surpassing $500 million in just a few days.
The smart money in the meme space has made a killing, with one player using an initial cost of $1,000 to earn 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 anthropomorphic character wears a sweatshirt, jeans, and sneakers, with his hands in his pockets, exuding a "relaxed and carefree" vibe.
This character has become a viral sensation on the Tiktok platform beloved by Gen Z, becoming a "spiritual totem" for the younger generation, representing a "Buddhist, relaxed" attitude towards life.
In just a few days, the market value of CHILLGUY has 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, making a profit of over $100,000 with an investment of just over $1,000.
The wallet holder starting with "9zW" invested $233.89 in CHILLGUY when it was first listed on Pump.fun. At the time, the coin's market value was just under $11,000. Over the next 30 hours, the coin surged over 38,800%, reaching a market value of around $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 gain was only 180% of the previous peak. During this time, the trader added another $867.35 in investment through three more transactions, bringing his total cost to around $1,101.24, although most of it likely came from his initial profits.
Tiktok is not primarily a crypto-focused platform, and the explosion of CHILLGUY has led many traders to believe that new users are entering the crypto space - perhaps for real.
On Tuesday, the start of CHILLGUY's big rally, a MoonPay spokesperson told Decrypt that it was a record-breaking day for Solana trading volume, meaning more people than ever are using their services to inject funds into the Solana ecosystem.
With a flood of new investors, CHILLGUY skyrocketed on Tuesday and Wednesday, with its market value soaring from $11.5 million to $488 million, a gain of over 4,000%.
Over the two days, the lucky trader continued to sell off a portion 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 the token.
This brings the wallet's total unrealized gains to over $1.05 million. However, due to the volatile nature of the meme coin market, these gains are not yet secure. If the market sentiment shifts, these paper profits could instantly evaporate.
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 meteoric rise, its creator does not want to ride the hype. He wrote on Twitter: "I do not support/endorse my artwork being used for anything crypto-related. Please stop bothering me."
He then set his Twitter account to private to avoid further harassment.
Nevertheless, some so-called "tribute" Non-Fungible Token (NFT) series to CHILLGUY have been launched, with one having a minimum price of 3 SOL (around $700). Additionally, numerous derivative meme coins have been introduced, including other character tokens created by Banks, such as Worried Guy (WORRIEDGUY), which Banks referred to as a "flopcoin" (because its market value failed to break $100,000), but later surged to $10 million.
So, are you playing the meme game?
