A new Solana-based memecoin has stolen the crypto market’s spotlight after a more than 80% increase in market capitalization above the $600 million mark in seven days. After its remarkable performance, the latest internet sensation continues to grow in popularity, recently scoring two major exchange listings.
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Only a cool increase to $0.65
The memecoin mania of this cycle has seen many tokens rise and fall over the past few months, including Celebrity Token Fan and recent The Pump.fun livestream saga is starting a debate on whether they benefit the market.
Despite the criticism, new tokens continue to grow, jumping massively in a matter of days. The latest memecoin sensation, just a cool guy (CHILLGUY), has given an inspiration the craze That sent the tokens into a massive 80% weekly rally.
The cryptocurrency is based on the viral TikTok meme of a smiling dog in a relaxed pose dressed in casual clothes. The original drawing was created by Philip Banks in 2023 and is slowly gaining popularity on social media platforms.
The meme also went viral on X and Instagram, with many reimaginings of the ‘Chill Guy’ flooding people’s timelines. Amid the meme’s rise in popularity, crypto investors have created a token inspired by the internet sensation.
On November 20, meme momentum fueled the token’s 400% rally to $0.44 in 24 hours. However, its price momentarily fell by more than 30% after the banks announced He will take legal action against Token for copyright infringement.
Since then, Memecoin has recorded two new highs during the past day, rising nearly 50% to its all-time high (ATH). The token hit the $0.56 mark on Tuesday afternoon before surging another 20% to its latest ATH of $0.65 on Wednesday morning.
Killed Cryptocurrency a Market capitalization $657 million before falling back below $600 million, sitting as the eighth-largest Solana-based memecoin.
Memecoin Sensation Score Top List
The token frenzy is fueled by the meme’s current popularity and its endorsement by public figures. A week ago, the pro-bitcoin president of El Salvador, Naib Bukele, shared a cool guy meme as BTC traded above $94,000 for the first time in history.
In addition, popular YouTuber Mr. Beast was called The internet sensation is “the biggest meme of our lifetime” after streamer Ninja shared his version of the meme on Tuesday.
Adding to the momentum, major crypto exchanges have announced their latest memecoin listings. On November 26, Bybit listed CHILLGUY on their Spot trading platform, while Binance announced It will add a standing contract for Binance Futures on November 27 with leverage up to 75x.
Amid the CHILLGUY frenzy, one investor made over $6 million from the token. As on-chain data analytics firm Lookonchain ReportedA crypto trader spent 0.75 SOL, a price of $160, to buy 12.5 million CHILLGUY tokens.
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After twelve days, the the merchant now holds 9.2 million tokens, making a total profit of $6.1 million at the time of Blockchain’s report. Some community members noted that if the cryptocurrency continues its rapid growth, it could flip other memecoin sensations such as Dogwift (WIF) and PopCat (POPCAT) within a week.
However, it remains to be seen whether the token can sustain its current momentum or become a one-hit crypto wonder. As of this writing, CHILLGUY trades at $0.59, up 23.3% in the daily timeframe.
Featured image from Unsplash.com, Chart from TradingView.com
