CHILLGUY Memecoin Hits $650M Market Cap Amid Controversy Over Intellectual Property
The post CHILLGUY Memecoin Hits $650M Market Cap Amid Controversy Over Intellectual Property appeared on BitcoinEthereumNews.com.
In a remarkable turn of events, CHILLGUY, a memecoin launched just 12 days ago, has reached a staggering market cap of $650 million, hitting a new all-time high today. The token’s meteoric rise has been further fueled by listings on prominent exchanges, including Bybit, Gate.io, and MEXC. According to Lookonchain, a savvy trader made an incredible profit by investing early in $CHILLGUY. The trader spent 0.75 SOL (approximately $160) to purchase 12.5 million CHILLGUY tokens on Pump.fun at launch. They later sold 2.8 million of these tokens for 149 SOL (roughly $35,400) while retaining 9.62 million tokens. This leaves the trader with a total unrealized profit of $6.14 million. #CHILLGUY, a memecoin created just 12 days ago hit a Market Cap of $650 million. Today it hit a new ATH 🤩 It also got listed on Bybit, https://t.co/UWl4zFDccX, and MEXC. As per @lookonchain, a trader spent 0.75 #SOL ($160) to buy 12.5 million $CHILLGUY on… pic.twitter.com/LiWqNVm7pt — Wise Advice (@wiseadvicesumit) November 27, 2024 Controversies Around CHILLGUY Despite its success, CHILLGUY is embroiled in controversy. Philip Banks, the creator of the “Chill Guy” character, has raised concerns about the unauthorized use of his intellectual property in the project. Banks has publicly stated that he plans to take legal action against those profiting from his creation without his consent. This looming legal battle could pose significant risks for the memecoin, as questions over copyright infringement might impact investor confidence. While CHILLGUY has gained immense popularity in record time, the controversy surrounding its origins raises important ethical and legal considerations. Turned $160 into $6.14M, a 38,399x return! 12 days ago, this trader spent only 0.75 $SOL($160) to buy 12.5M $CHILLGUY on https://t.co/DrKlYnPPqY, and then sold 2.8M $CHILLGUY for 149 $SOL($35.4K). #CHILLGUY The trader still holds 9.62M $CHILLGUY($6.1M), with a total profit of… pic.twitter.com/a5tPaB3KpT — Lookonchain (@lookonchain)…
Filed under: News - @ November 28, 2024 5:25 pm