Peanut

Peanut the Squirrel

Raydium

Gains

The Chill Guy (<a href="https://yellow.com/asset/chillguy">CHILLGUY</a>) meme coin has caught the imagination of the crypto market as we began the week on Monday, November 25. The meme coin has made quite the transition from being a popular meme on the internet, especially TikTok trends, to crypto wallets. So much so that this laid-back cartoon dog <a href="https://decrypt.co/293362/chill-guy-meme-coin-pumps-another-50-as-creator-fights-back">has become </a>a cryptocurrency with a million-dollar market cap. 
Chill Guy was launched on November 15 and since then the meme coin has risen to attain a market capitalization of over $461 million from $10 million. This happened due to the unprecedented popularity of the Chilo Guy character - an anthropomorphic dog wearing a grey sweater, red sneakers and blue jeans. 
In the last 24 hours, this Solana-based meme coin has surged more than 50% to reach a few inches short of $0.50. This shows the frenzy over meme coins which goes against market norms by offering lucrative returns to its holders due to their immense price volatility. 
The character has captured the meme market with its casual laidback attitude. It has now become a cultural phenomenon which led to the surge in the coin. 
The carefree attitude of Chill Guy goes well with audiences, especially Gen Z’s as it is often seen with humorous captions on social media platforms like TikTok. 
However, the rise in the CHILLGUY token is filled with tension related to its creator Philip Banks objecting to the alleged unauthorised exploitation of his work. 
Earlier last week, Philip Banks tweeted that he would take legal action against for-profit-related activities pertaining to the character as it is copyrighted. 
“Just putting it out there, Chill Guy has been copyrighted. Like, legally. I’ll be issuing takedowns on for-profit related things over the next few days,” read the tweet. 
The creator further clarified that he is targeting shitcoins and unauthorised merchandise not casual use by brands or individuals. Banks said he just asks for credit or Xboxes for the latter kind of violations. 
However, these concerns didn't seem to bother the early adopters of the Solana-based meme coin as they gained massive returns on the CHILLGUY token. One particular token holder made more than $1 million out of $1,000 he invested in just days. 
This is not the first time a meme coin has shown such huge potential to convert internet phenomena into financial windfalls. 
Two weeks ago Peanut the Squirrel (PNUT) was launched, inspired by the New York authorities' pet squirrel Peanut. The meme coin gained massively in the first week of the launch, which has now resulted in a market cap of $1 billion. Similarly, another meme coin called the First Convicted Raccoon (FRED) skyrocketed 383% in a day. 
As of November 25 afternoon, the token is trading at $0.47 with a market cap of approximately $472 million. CHILLGUY has emerged as the biggest gainer of today. 
This is because it has got the backing of people like Nayib Bukele which has spiked its popularity. 
Similar to all other meme coins, the surge in Chill Guy is also likely to slide after a few days. However, the spike in its trading activity across decentralised crypto exchanges like Raydium tells a different story. Almost 58% of the meme coin’s daily trading volume is on Raydium. 
This has triggered speculations that CHILLGUY is up for listing on centralized exchanges (CEX) like Gate.io, crypto.com, Bitmart and MEXC while this week the token could be listed in Binance or Bybit crypto exchange. 
As of November 25, CHILLGUY has gained 51.88% in the last 24 hours to trade at $0.413 with an 86.36% gain in its trading volume which is at $186.56 million while the market cap touched $411.80 million.

Chill Guy Gains 50% In A Day As Binance Listing Is Expected

Yellow News

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