The "Chill Guy" meme, created by artist Phillip Banks in October 2023, gained significant popularity in late 2024, leading to the creation of the CHILLGUY cryptocurrency token. This token experienced a rapid surge in market capitalization, reaching approximately $488 million by November 20, 2024.
A notable instance of this growth involved a trader who invested $160 in CHILLGUY tokens and, within 12 days, saw their investment grow to over $6 million, marking a 38,399% return on investment.
However, the token's value has been volatile. After peaking, it experienced a significant decline, with reports indicating a 24% drop in value.
The rapid rise and fall of CHILLGUY highlight the speculative nature of meme-based cryptocurrencies. Investors should exercise caution and conduct thorough research before engaging with such assets.
