Solana Trader Profits Millions With Viral Memecoin

A trader on the Solana network managed to turn a modest $160 into millions by investing in a memecoin inspired by a viral online sensation.

The token, based on the “Just a chill guy” meme, quickly gained traction, leading to staggering profits for some early investors.

On November 15, the trader made two separate purchases of the CHILLGUY token, a newly launched memecoin. They initially spent around $107 worth of Solana (0.5 SOL) to acquire 9.6 million tokens through the Pump.fun platform. A few hours later, they added another $51 (0.246 SOL) for an additional 2.8 million tokens.

The timing proved critical as the token’s value skyrocketed shortly after its launch. CHILLGUY rode the wave of the popular meme to achieve a market cap of $643 million by November 27. While the trader sold 2.8 million tokens early for 149 SOL, earning approximately $35,000, they retained 9.6 million tokens, which are now worth an estimated $5.6 million.

The memecoin’s success has not been without controversy. The creator of the original “Just a chill guy” character, known as PhillipBankss, has openly opposed the use of his work in connection with CHILLGUY. He claims the artwork is copyrighted and has vowed to take legal action against those using it for profit.

Despite these objections, many in the crypto community argue that enforcing such rights on decentralized platforms is nearly impossible. Some believe the token, now etched into the blockchain, will continue to exist independently of its creator’s objections.