- CHILLGUY memecoin rallied 100X, thanks to TikTok.
- Can the uptrend hold amid increased market interest and shifting narratives?
As a seasoned crypto investor with battle-tested nerves and a knack for spotting trends, I must admit that CHILLGUY’s meteoric rise has caught my attention. The speed at which this memecoin rallied 100X, fueled by TikTok, is reminiscent of the Doge days, and I can’t help but feel a sense of déjà vu.
The story behind the meme coin on TikTok, spearheaded by the popular token CHILLGUY, has been generating significant wealth for crypto investors who identified this trend at an early stage. This new wave is attracting attention due to its massive impact on traders.
Over the past fortnight, the main topic of conversation among thought leaders has moved from Artificial Intelligence agents to Decentralized Science (DeSci), with TikTok’s meta becoming the current buzz.
Investing capital based on rotating trends may carry risks, yet some traders have reaped substantial profits by hopping onto the bandwagon of the popular CHILLGUY movement.
CHILLGUY’s rapid rise
In the past few days, a popular meme depicting a laid-back looking creature resembling a dog and a bear has gone viral across various social media platforms.
A person hopped aboard a popular trend and developed a meme-based cryptocurrency, which debuted on the Solana platform via Pump.fun. In just under a week, TikTok users helped propel its value to over half a billion dollars, inflating its market capitalization.
Interestingly, the record growth outpaced even the wild rally that PNUT fronted.
In the past seven days, the number of CHILLGUY token holders surpassed 100,000, while PNUT took more than ten days to reach 60,000 holders. As of the current report, CHILLGUY’s token holders were recorded at approximately 103,800 according to Solcan data.
Despite a minor decrease that caused the market capitalization to dip from approximately $500 million to around $400 million at the time of publishing, the number of coin holders increased significantly, suggesting strong market engagement and a possible resurgence for this popular meme-based cryptocurrency.
Approximately 10% of the total CHILLGUY supply, which amounts to 999.9 million units, is controlled by the ten largest token holders. Consequently, these major holders might not exert significant impact on price fluctuations, even if they decide to sell their assets.
Additionally, the token ranked within the top 10 popular Solana tokens. If TikTok discussions maintain their prominence, this trend may boost its price.
What’s next for CHILLGUY?
In just a week, CHILLGUY rose from $0.002 to $0.5, a whopping +10,000% price rally. That’s a 100x gem that most crypto traders highly sought. Put differently, someone who invested $100 at the lows could be worth $10K when CHILLGUY’s peaked at $0.5.
If the traction holds, the next key levels to watch are $0.7 and $0.28. However, like all memecoins, it’s speculative and could go to zero, making Solana [SOL] the better exposure to the memecoin mania.
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2024-11-21 17:11