News Scrap

Key Takeaways

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.

Binance announced Wednesday it would list TikTok-inspired meme coin CHILLGUY and Morpho lending protocol’s MORPHO on its futures market. The listing came after CHILLGUY hit $600 in market cap within two weeks of launch.

CoinGecko data shows that CHILLGUY’s value has risen around 7% over the past 24 hours, while extending its weekly gains to 80%.

The token reached a new high of $0.65 in early trading today but has experienced a pullback, currently trading at approximately $0.53.

As of the latest market data, the token’s market cap sits at around $534 million, overtaking popular meme coins Turbo (TURBO) and Moodeng (MOODENG). It’s on track to surpass Book of Meme (BOME) in the meme coin market rank.

While many meme tokens experience major price increases upon being listed on Binance, CHILLGUY’s rally was relatively brief. The token’s price soared 13% to $0.62 but has since declined to below $0.6.

MORPHO, on the other hand, jumped over 40% following Binance listing news. The surge boosts its daily gains to 80%, per CoinGecko data.

What is CHILLGUY?

The CHILLGUY token draws its inspiration from the ‘Chill Guy’ character, a viral digital artwork and meme created by artist Phillip Banks.

The meme resonates with audiences for its relatable portrayal of a laid-back attitude. The character is depicted as an anthropomorphic brown dog wearing a grey sweater, blue jeans, and red sneakers, characterized by a relaxed smirk and hands in pockets.

Nayib Bukele, the President of El Salvador and a Bitcoin advocate, recently shared a tweet featuring the Chill Guy meme, which resulted in a surge in the value of the CHILLGUY token. The price of the CHILLGUY token increased by 65% within just 90 minutes following his tweet.

pic.twitter.com/WRxdP6qreN

— Nayib Bukele (@nayibbukele) November 21, 2024

However, Banks is not content with his artwork’s unauthorized use in crypto projects. He has stated that he does not endorse any crypto initiatives involving his work.