TikTok-inspired meme token CHILLGUY reached $500 million market cap in five days.
The token’s rapid growth is due to the growing popularity of the “Chillguy” character, originally introduced by digital artist Phillip Banks in October 2023.
In his first post, Banks described the character as a “cold-blooded guy” who is oblivious to the chaotic situations around him.
Although the character was created over a year ago, his popularity has skyrocketed recently, with thousands of TikTok videos depicting Chillguy in various scenarios where he remains “cool” and indifferent to the situations around him.
The token, which is currently trading at $0.44, gained unprecedented popularity amid the viral trend, rising over 20,000% in price in five days to reach a peak market capitalization of $500 million before settling at $440 million dollars.
According to Gecko Terminal, the token, created two months ago with the help of Pump.fun, already has more than 81,000 owners.
According to Bubblemaps, the distribution among holders is relatively even, with the largest holder holding just 1% of the total supply.
However, despite this even distribution, the token has only US$5 million in liquidity compared to its market capitalization of US$440 million.
“IMO there was no way to predict such a high performance early on,” a meme coin trader under the pseudonym Burley wrote on X, noting that this was potentially the fastest rise to a $500 million market cap for a meme coin.
The rise in popularity of the meme coin has turned several traders into millionaires. Analytics account Lookonchain reported that the trader turned $21,000 into $2.68 million in just four days.
The trader purchased 26 million CHILLGUY tokens, selling 23.8 million for $2.24 million while keeping 2.25 million tokens worth $459,000 in his wallet.
Crypto.com has announced that it will list CHILLGUY for spot trading on its exchange, marking the first major centralized listing of the token on an exchange.
Many in the community are anticipating additional listings on major centralized exchanges, potentially increasing its value even further.
