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Home BUSINESS

Binance Lists Viral Meme Coin CHILLGUY Driving Massive Gains

Michael Juanico by Michael Juanico
November 27, 2024
in BUSINESS, CRYPTO
Reading Time: 2 mins read
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• Binance listed the meme coin CHILLGUY as its market cap reached $600 million
• CHILLGUY’s value surged by 80% over the week amid viral influence and trading activity
• The CHILLGUY token draws inspiration from the viral “Chill Guy” meme created by artist Phillip Banks

Binance recently announced it would list the popular meme coin CHILLGUY on its futures market. This came after the token saw its market cap surge past $600 million just two weeks after launching. The meme coin draws its inspiration from the viral “Chill Guy” character created by artist Phillip Banks.

ICYMI: Solana meme coin $CHILLGUY to be listed on Binance perpetual contracts with up to 75x leverage 😳 pic.twitter.com/B8NdE5xYHa

— BlockNews (@blocknewsdotcom) November 27, 2024

CHILLGUY’s Recent Price Action

CHILLGUY’s value has risen around 7% over the past 24 hours, extending its weekly gains to 80%. The token reached a new high of $0.65 in early trading but has since pulled back, currently trading around $0.53. Its market cap sits at $534 million, surpassing other meme coins like Turbo and Moodeng. While many tokens jump after a Binance listing, CHILLGUY’s rally was relatively brief, spiking 13% before declining.

Background on the Chill Guy Meme

The Chill Guy meme portrays a laid-back anthropomorphic dog wearing a sweater, jeans, and sneakers. The relaxed character resonated with audiences. El Salvador President Nayib Bukele recently tweeted the meme, causing a 65% price surge for CHILLGUY within 90 minutes. However, artist Phillip Banks does not endorse any crypto projects using his meme without permission.

Conclusion

The Binance listing shows the power exchanges wield in fueling hype and short-term price spikes for trendy meme coins. However, controversies around unauthorized use of memes highlight the risks in trading joke tokens lacking a purpose beyond speculation. It remains to be seen if CHILLGUY can sustain its gains.

Tags: BinancechillguyMeme CoinPhillip BanksTurbo
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University. He has been a Content Writer since 2019, covering a wide range of topics. His interest in crypto began in 2021, eventually becoming his main focus. For almost four years, he has worked with Aiur Labs and holds BTC, TRON, and a few memecoins.

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