A Solana-based memecoin trader has turned a $160 investment into millions of dollars after buying tokens related to the "Just a chill guy" meme that is spreading on the internet.
According to data from the Solana blockchain explorer Solscan, on November 15, this trader's wallet made two purchases of the memecoin CHILLGUY, exchanging 0.5 SOL (about $107) to receive 9.6 million CHILLGUY tokens from the meme token creation platform Pump.fun. Just a few hours later, the person invested an additional $51 (equivalent to 0.246 SOL) to receive 2.8 million more tokens.
The CHILLGUY token was launched on November 15 on the Solana blockchain, following the "Just a chill guy" meme wave that has been a sensation on social media platforms. The value of this token has skyrocketed, reaching a peak market capitalization of $643 million on November 27. At the current time, CHILLGUY is trading at $0.58.
This trader has already sold 2.8 million tokens for 149 SOL (approximately $35,000), missing out on a potential profit of up to $1.6 million. However, they still hold 9.62 million tokens, currently worth around $5.6 million.
While some traders have benefited from the success of the CHILLGUY token, the creative artist behind the "Just a chill guy" character, PhillipBankss, has publicly criticized the unauthorized use of his work. On November 21, PhillipBankss announced that he has registered the copyright for the character and will be issuing takedown notices for the use of this image for commercial purposes in the coming days. He also stated that he does not consent to and does not endorse the use of his artistic work in cryptoassets.
Despite the artist's objections, the community on X believes that enforcing this request will be challenging. Many argue that decentralized and anonymous memecoins are difficult to control or stop from being issued. Another community member stated that the memecoin will continue to exist regardless of the artist's involvement, as the asset is now stored on the blockchain.
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Annie
According to Cointelegraph
