The Solana Memecoin Trader owns 9.62M CHILLGUY tokens, which are valued at approximately $5.6M at the current market rates, according to onchain statistics.
After purchasing tokens linked to a popular internet meme, a Solana memecoin trader made millions of dollars from a $160 investment.
On November 15, a wallet made two purchases of the Just a Cool Dude (CHILLGUY) memecoin, according to data from Solana’s blockchain explorer Solscan.
On the Solana memecoin generation platform Pump.Fun., the trader traded 9.6 million CHILLGUY tokens for 0.50 Solana, which was approximately $107 at the time.
The trader added a further 0.246 SOL (about $51) for 2.8 million tokens a few hours later.
On November 15, the CHILLGUY token was introduced on the Solana blockchain, capitalizing on the social media success of the “Just a chill guy” meme. By Nov. 27, the token’s value had risen to a peak market capitalization of $643 million.
The memecoin is currently trading at $0.58.
According to blockchain statistics, the trader lost out on a possible $1.6 million profit when they sold 2.8 million tokens early for 149 SOL, or roughly $35,000.
The trader still has 9.62 million tokens, which are currently worth roughly $5.6 million.
Tokens Face Legal Action From Chill Man Artist
Although some traders made money off of the token’s popularity, the creator of the Just a Chill dude character has openly condemned its improper use.
The artist, who goes by PhillipBankss on X, claimed to have previously registered the cool guy character on November 21.
In the coming days, the artist claimed, he will issue takedowns for the art’s for-profit use.
The artist previously stated that he did not approve of the artwork’s use in cryptocurrency assets.
Despite the artist’s protests, X community members warn it might be difficult to enforce.
According to others, it is challenging to control or stop down memecoins that rely on anonymous, decentralized launches.
Another community member stated that the cryptocurrency asset is now permanently recorded on the blockchain and that the memecoin would exist regardless of the artist.
