☀️The latest Memecoin CHILLGUY has soared to a historic high of $0.65, what's behind the 80% pump?

A new memecoin based on Solana has surged over 80% in seven days, with a market capitalization exceeding $600 million, stealing the limelight in the Crypto Assets market. Following its impressive performance, the latest internet sensation continues to gain popularity and has recently been listed on two major exchanges.

Pump slightly to $0.65
In this round of memecoin frenzy, we have witnessed the rise and fall of many Tokens in the past few months, including the craze for celebrity Tokens and the recent legend of Pump.fun Livestream, which has sparked discussions about whether they are beneficial to the market.
Despite criticism, the price of the new Token is still pumping, with some Tokens skyrocketing to new highs within days. The latest memecoin sensation, just a chill guy (CHILLGUY), has sparked a frenzy, pushing the weekly gain of the Token to 80%.

🐳This kind of Crypto Assets is based on the popular internet memes on TikTok, with a casually dressed dog in the picture, smiling foolishly in a relaxed posture. The original drawing was created by Philip Banks in 2023 and gradually became popular on social media platforms.
This internet memes is also going viral on X and Instagram, and people's timelines are filled with various reinterpretations of the "Chill Guy". Inspired by this internet memes, cryptocurrency investors have created a Token.

On November 20th, the momentum of the MEME pushed the Token to pump 400% within 24 hours, to $0.44. However, after Banks announced that they would take legal action against the Token for copyright infringement, its price dropped by over 30% at one point.
Subsequently, the memecoin price soared by about 50% to its all-time high (ATH), and set two new highs on the last day. On Tuesday afternoon, the token price reached a key level of $0.56, and on Wednesday morning, it surged 20% to the latest ATH of $0.65.
The market capitalization of this cryptocurrency once reached 657 million US dollars, and then fell below 600 million US dollars, becoming the eighth-largest memecoin based on Solana.

🐳Memecoin is making a splash, listed on major exchanges
The Token craze is fueled by the current popularity of internet memes and the support of public figures. A week ago, El Salvador's pro-BTC president, Nayib Bukele, shared "just a calm man" internet memes, when BTC was trading above $94,000 for the first time.
In addition, after streamer Ninja shared his version of the MEME on Tuesday, popular YouTuber Mr. Beast called it 'the biggest MEME of our lives'.

To further promote this trend, major Cryptocurrency exchanges have announced the launch of the latest memecoin. On November 26th, By//bit launched CHILLGUY on its Spot trading platform, while coin//安 announced that it will add Perptual Futures with leverage of up to 75x on coin//安 Futures on November 27th.
During the CHILLGUY frenzy, an investor made over 6 million USD from the Token. According to on-chain data analysis company Lookonchain, a Cryptocurrency trader spent 0.75 SOL (worth 160 USD) to purchase 12.5 million CHILLGUY Tokens.

📈12 days later, the trader now holds 9.2 million Tokens, with a total profit of 6.1 million US dollars when the report was released on Lookonchain. Some community members pointed out that if the Cryptocurrency continues to rise rapidly, it may surpass other popular meme coins such as dogwifhat (WIF) and Popcat (POPCAT) within a week.
However, whether the Token can maintain its current momentum or become a fleeting Cryptocurrency miracle remains to be seen. At the time of writing, the trading price of CHILLGUY is 0.59 US dollars, pumping 23.3% within the day.
（tv-NewsBTC）