Source: Decrypt; Compiled by: BitpushNews Mary Liu
The meme track sees the myth of a thousandfold fortune again.
Just a Chill Guy - this expression pack that has gone viral on Tiktok (overseas version of Douyin) has been brought to the chain by the crypto circle, and its market value has surpassed $500 million in just a few days.
The smart money in the meme world has made a fortune from it, 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 calm" demeanor.
This character has become a viral sensation on the Tiktok platform, beloved by the post-00s generation, and has become a "spiritual totem" for the younger generation, representing a "Buddhist, relaxed" attitude towards life.
In just a few days, CHILLGUY's market value has soared from $10 million on Monday to $488 million at the time of writing. On-chain data shows that a lucky trader seized the opportunity and made 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 skyrocketed 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 a platform primarily focused on cryptocurrencies, and CHILLGUY's explosion has led many traders to believe that new users are entering the cryptocurrency space - perhaps for real.
On Tuesday, the start of CHILLGUY's big rally, a MoonPay spokesperson told Decrypt that it was a day of record-high Solana trading volume, meaning more people than ever before 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 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 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 have not yet been secured. If the market sentiment changes, these floating profits could instantly be wiped out.
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 hype. He wrote on Twitter, "I do not support/agree with my artwork being used for anything crypto-related. Please stop bothering me."
He later set his Twitter account to private to avoid harassment.
Nevertheless, some so-called "tribute" CHILLGUY Non-Fungible Token (NFT) collections have been launched, with one having a minimum price of 3 SOL (around $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 referred to as a "flopcoin" (because its market value failed to break $100,000), but later soared to $10 million.
So, have you played with memes?
