CHILLGUY, a new Solana-based memecoin, has surged over 80% in just a week, reaching a market cap above $600 million. Its remarkable rise to fame was ignited by its origin from a viral TikTok meme, depicting a laid-back smirking dog.
Despite facing a 30% price drop due to legal action for copyright infringement by creator Philip Banks, the token quickly recovered and reached an all-time high (ATH) of $0.65. Its rapid rise has captured the attention of major crypto exchanges, with listings by Bybit and Binance.
Public figures like El Salvador’s President Nayib Bukele and YouTuber Mr. Beast have also fueled the token's frenzy. As investors capitalized on its popularity, one trader turned a $160 investment into over $6 million.
The token's success demonstrates the unpredictable nature of memecoins, although doubts remain about its ability to sustain such momentum in the long run.
