Solana trader earns $5.6M from $160 CHILLGUY token purchase

A Solana-based (CRYPTO:SOL) trader has turned a $160 investment into a remarkable $5.6 million by trading CHILLGUY (CRYPTO:CHILLGUY) tokens, a memecoin inspired by the viral "Just a chill guy" internet meme.

Blockchain data from Solscan shows that the trader purchased CHILLGUY tokens on November 15 through Pump.fun, a Solana-based memecoin generator platform.

The trader initially spent 0.50 SOL, valued at $107 at the time, to acquire 9.6 million CHILLGUY tokens.

A few hours later, an additional 0.246 SOL, worth $51, was used to buy another 2.8 million tokens.

The token’s value surged after its launch on November 15, driven by its connection to the popular meme.

By November 27, the token’s market capitalisation reached $643 million, with CHILLGUY trading at $0.58.

Although the trader sold 2.8 million tokens early for 149 SOL, roughly $35,000, they retained 9.62 million tokens, which are now worth $5.6 million based on current market prices.

However, the creator of the "Just a chill guy" meme, known as PhillipBankss, has expressed disapproval of the token's use of his copyrighted artwork.

On November 21, the artist announced on X that he plans to issue takedown notices against any for-profit use of his character.

"I neither endorse nor consent to my artwork being used in crypto assets," he stated.

Despite these objections, enforcing intellectual property rights in decentralised ecosystems remains challenging.

Some community members on X noted that memecoins launched anonymously on decentralised platforms are difficult to regulate.

“The memecoin will exist with or without the artist and is now immortalised on the blockchain,” one commenter remarked.

At the time of reporting, the Just a Chill Guy (CHILLGUY) price was $0.5552.