The Chill Guy meme coin, inspired by the viral TikTok sensation “Just a Chill Guy,” has taken the crypto world by storm.
A new meme coin, inspired by the viral TikTok meme “Just a Chill Guy,” has seen its value skyrocket to reach a market capitalization of $420 million within a week of its launch on the Solana-based PumpFun platform. The token, dubbed Chill Guy, has attracted over 120,000 holders.
However, the coin’s meteoric rise is now facing some legal pushback, as the creator of the Chill Guy meme, Philip Banks, announced on Nov. 21 that the character is copyrighted and that he will be issuing takedowns against any projects using his creation for profit.
The announcement saw Chill Guy coin’s value drop by 54% from $500 million to $220 million. It has since recovered to $375 million, thanks in part to the community’s efforts to get Banks’ approval. Supporters have created a donationרְ錢包, which now holds around $300,000 in tokens, including Chill Guy coin, in an attempt to get the artist on board with the project.
Despite these efforts, Banks has taken his X account private and has not shown any further interest in resolving the matter.
The rise of Chill Guy coin is also indicative of a larger trend, as retail investors are increasingly piling into memecoins. Moonshot, a Solana-focused app in partnership with MoonPay, reported seeing record single-day onramp activity on Nov. 19. At the same time, hardware wallets like Phantom and Coinbase have seen a surge in interest, as evident from their rising positions in the app store rankings.
In other memecoin news, TikTok creator Mark Kacy announced a KACY token on Nov. 21, which quickly managed to reach a market capitalization of $70 million. However, the volatile nature of the memecoin sector makes it a risky space for new entrants.
Above all, Chill Guy coin’s fate now largely depends on whether it can resolve the copyright dispute with Banks. If it fails to do so, the token’s ability to maintain its viral momentum will be severely hindered.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
