Memecoin CHILLGUY Hits $0.65 ATH, What’s Behind The Rally?
A new meme coin based on Solana has soared more than 80% in seven days, surpassing the $600 million mark and stealing the spotlight from the cryptocurrency market. Following its stellar performance, this latest internet sensation continues to gain popularity and was recently listed on two major exchanges.
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Slightly higher at $0.65
This cycle of memecoin mania has seen the rise and fall of many coins over the past few months, including the Celebrity token mania and latest Pump.fun live streaming saga, sparking discussion about whether they are good for the market.
Despite the criticism, new coins continued to rise, with some jumping to huge highs within days. The Latest Meme Coin Sensation Is Just a Chill Guy (CHILLGUY) Ignites fanaticism This gave the coin a massive 80% weekly gain.
The cryptocurrency is based on a viral TikTok meme: a smiling dog wearing casual clothing and striking a leisurely pose. The original image was created by Philip Banks in 2023 and slowly became popular on social media platforms.
The meme has also gone viral on X and Instagram, with some reimaginings of “Chill Guy” flooding people’s timelines. As the meme goes viral, cryptocurrency investors have created a token inspired by the internet sensation.
On November 20, the meme’s momentum pushed the coin up 400% to $0.44 in 24 hours. However, after bank stocks, their prices once fell by more than 30%. Announce He will take legal action against the token for copyright infringement.
Since then, memecoin has surged around 50% to a new all-time high (ATH), setting two new highs on the final day. The coin hit the $0.56 mark on Tuesday afternoon and surged another 20% to its latest peak of $0.65 on Wednesday morning.
Cryptocurrency hits record Market value Valued at $657 million, it later fell back below $600 million, making it the eighth largest Solana-based meme coin.
Memecoin Sensation Scores Major Listings
The coin’s current popularity and endorsements from public figures have fueled the craze for the coin. A week ago, El Salvador’s pro-Bitcoin president Nayib Bukele shared a “calm guy” meme as Bitcoin traded above $94,000 for the first time in history.
In addition, popular YouTube blogger Mr. Beast called The internet was rocked by “the biggest meme of our lives” on Tuesday after streamer Ninja shared his version of the meme.
This momentum has been further fueled by major cryptocurrency exchanges announcing the launch of the latest meme coin. On November 26, Bybit listed CHILLGUY on its spot trading platform, while Binance Announce Perpetual contracts with leverage up to 75x will be added to the Binance Futures trading platform on November 27.
Amid the CHILLGUY craze, one investor made over $6 million from the token. As an on-chain data analytics company Lookonchain reporta cryptocurrency trader spent 0.75 SOL, worth $160, to purchase 12.5 million CHILLGUY tokens.
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Twelve days later, business Currently holding 9.2 million tokens, total profits as of the time of the Lookonchain report were $6.1 million. Some community members noted that if the cryptocurrency continues to grow rapidly, it could topple other memecoin sensations such as Dogwifhat (WIF) and Popcat (POPCAT) within a week.
However, it remains to be seen whether the coin can sustain its current momentum or become a one-hit crypto wonder. At the time of writing, CHILLGUY is trading at $0.59, up 23.3% on the daily time frame.
Featured image from Unsplash.com, chart from TradingView.com
