$1,000 to $1,000,000, who caught Chillguy's moonshot riches?
CHILLGUY's market capitalization skyrocketed from $10 million to $488 million in a short period of time, allowing a trader to earn over $1 million in less than a week through a little over $1,000 investment.
Original Title: What Is Chill Guy? The Viral TikTok Meme Already Making Crypto Traders Millions
Original Source: Decrypt
Original Translation: Mary Liu, Bitpush News
Another meme track witnesses the myth of a thousandfold wealth.
Just a Chill Guy - this emoji from TikTok, which has gone viral, has been brought from the internet to the blockchain by the crypto community, with a market capitalization exceeding $5 billion in just a few days.
The smart money behind the meme has made a fortune, with one player leveraging an initial investment 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. It features a character created by artist Phillip Banks in 2023, depicting a person wearing a sweatshirt, jeans, and sneakers, with hands in pockets, sporting a "calm and relaxed" expression.
This character, beloved by post-2000s on TikTok, has become a "spiritual totem" for the new generation of young people, representing a "Buddhist, relaxed" lifestyle attitude.
In just a few days, CHILLGUY's market cap surged from $10 million on Monday to $4.88 billion at the time of this writing. On-chain data shows that a fortunate trader took advantage of the opportunity, profiting over $1 million with just over $1,000 in investment.
The wallet holder starting with "9zW" invested $233.89 into CHILLGUY right as it went live on Pump.fun. At that time, the coin's market cap was just under $11,000. In the next 30 hours, the coin skyrocketed by over 38,800%, reaching a market cap of around $4.4 million. During this time, the trader cashed out for the first time with four transactions totaling $16,200.
Over the next few days, the coin experienced a brief pullback before another surge, but the increase was only 180% of the previous peak. During this period, the trader added $867.35 through three more transactions, bringing his total cost to around $1,101.24, although most of this may have come from his initial gains.
TikTok is not a cryptocurrency-focused platform, but the CHILLGUY explosion has led many traders to believe that new users are entering the cryptocurrency space — perhaps for real.
On Tuesday, as the CHILLGUY pump began, a MoonPay spokesperson told Decrypt that it was a day of record Solana trading volume, meaning more people than ever were using its service to inject funds into the Solana ecosystem.
With a large influx of new investors, CHILLGUY surged on Tuesday and Wednesday, with its market cap skyrocketing from $11.5 million to $488 million, a gain of over 4,000%.
Over the course of two days, the lucky trader continued to sell off part of their 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 in the account.
This has resulted in the wallet's total unrealized gains exceeding $1.05 million. However, due to the volatile nature of the meme coin market, these gains have not yet been realized. Once the market sentiment shifts, these paper gains could evaporate instantly.
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 popularity, its creator does not want to capitalize on the trend. He wrote on Twitter: "I do not endorse/agree with my artwork being used in anything crypto-related. Please stop contacting me."
He then set his Twitter account to private to avoid DM harassment.
Nevertheless, some NFT series, supposedly "paying homage" to CHILLGUY, have been launched, with one of them having a minimum price of 3 SOL (approximately $700). Additionally, numerous derivative meme coins have also been released, including other character tokens created by Banks, such as the one Banks called "flopcoin" Worried Guy (WORRIEDGUY) (as this coin's market cap failed to surpass $100,000 but later briefly surged to $10 million).
So, have you dabbled in memes?
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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