What is Chill Guy? Viral TikTok Meme Is Making Crypto Traders Millions

Virus-based crypto token Tiktok A few days after its launch, the meme hit a $500 million market cap and went parabolic. Savvy Meme Coin Traders Have Raised Millions Since Its Launch – Including One A $1,000 investment turned into $1 million in less than a week.

cold manChilgui) is a Solana meme coin that uses a character. Created by artist Philip Banks As a mascot in 2023. The anthropomorphic character wears a sweatshirt, jeans and sneakers, with his hands stuck in his pockets – a pretty cool looking dude.

This character has gone viral on Gen Z's popular social media platform. TiktokWhen paired with a statement that users are “cool people” despite the problems they face in life – big or small.

As such, the token grew from a market cap of $10 million on Monday to $488 million on Wednesday. With that, one lucky trader rode the wave, potentially making $1 million over $1,000.

Wallet 9zW He threw it first $233.89 at CHILLGUY While still on the meme coin launch pad Pump. Fun. At the time, the token was at just shy of $11,000. In the next 30 hours, the token increased by more than 38,800% to a market cap of nearly $4.4 million. During this period, the trader spent the first $16,200 in four transactions.

The next day, the coin bounced back before resurging, albeit with a 180% gain from its previous high. During this period, the lucky trader invested an additional $867.35 in CHILLGUY in three transactions. This brings the total invested to $1,101.24, although most of this may have been taken from the trader's initial profit.

TikTok is not known as a crypto-native platform and the success of CHILLGUY has led many traders to believe that a new audience is joining crypto. And this may be true.

A representative of MoonPay said that CHILLGUY's big pump started on Tuesday. Decrypt It was the biggest single day of ramp-up service for Solana transactions. This meant that more people than ever before were using the service to enter the Solana ecosystem.

With this apparent influx of new investors, CHILLGUY rose from a market cap of $11.5 million to $488 million throughout Tuesday and Wednesday—an increase of over 4,000%.

During those two days, our lucky merchant proceeded to cut and sell what he had. As of this writing, the wallet has sold $411,500 worth of CHILLGUY. DEX display$636,942 worth of tokens are in the account.

This brings the wallet's total unconfirmed profits to over $1.05 million. It should be noted that the rest of the $636,942 price CHILLGUY can depreciate instantly. The lucky trader has to sell these tokens to consider himself a “Millionaire Child Guy”.

In addition to CHILLGUY, the wallet also contains more than $100,000 worth of tokens from the wallet's biggest hits, as well as $13,700 in AI meme coins. Goat Maximus (Goat).

Separately, Arkham Intelligence posted on Wednesday about another trader that raised an initial investment of $865 to a high of $6.4 million. But a representative of on-chain data visualization startup Bubblemaps told Decrypt that the wallet in question does not appear to be a “lucky trader” but a “very sophisticated” effort that likely involves trading bots.

But despite the brand's success, the artist behind the character isn't happy. On Twitter, Banks wrote: “I do not or will not allow my art to be used in any crypto related matter. Please leave me.” He later made his Twitter private so that users could no longer harass him.

Despite the pushback, several Chill Guy tribute NFT collections have been launched: one of them is A 3 SOL ($700) floor. And countless generated meme coins It started including symbols of other characters created by Banks, such as Anxiety GuyWORRIEDGUY) Banks “flopcoin” for failing to break the $100,000 market cap at the time.

It has since reached a market high of $10 million.

Edited by Andrew Hayward.