The global cryptocurrency market has been in green, showing a 3% surge and reaching a market cap of $3.5 trillion in just 24 hours. Among the standout performers is the meme coin Just a Chill Guy (CHILLGUY), which has skyrocketed by nearly 50%, grabbing attention as one of the day’s top gainers.
So, what’s behind this surge, and why is CHILLGUY becoming the center of attention? Keep reading to discover the story.
Since launching on November 15, CHILLGUY, inspired by a popular internet character, has seen significant growth. Its market cap rose from $10 million to a high of $790 million, before settling at around $250 million. This sharp rise has caught the attention of many in the crypto community.
The main reason behind CHILLGUY’s price surge is speculation about a potential listing on Binance, one of the world’s largest cryptocurrency exchanges. While Binance has not confirmed this, the rumors have spread quickly on social media, creating excitement and attracting both retail investors and crypto whales.
Crypto whales, or large investors, have also been a key factor in CHILLGUY’s recent rise. Reports suggest that influencers and major players are buying up the token in large quantities, further driving its price up.
In the past 24 hours, CHILLGUY has outperformed popular meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). Early investors have already made significant profits, with one individual reportedly turning a $1,000 investment into more than $1 million.
Growing Open Interest Signals Demand
Data from Coinglass shows that CHILLGUY’s Open Interest (OI) surged by 98% this week, reaching $111.14 million. This increase in OI signals growing demand and is helping drive the price rally.
As of now, CHILLGUY’s price is trading around $0.25, positioning well for further gains if the current momentum continues. Meanwhile, on-chain data from Nansen reveals $339,000 in smart money inflows over the past 24 hours, indicating rising interest from big investors.
If the buying continues, the price could rise to $0.45 or more. Perhaps, if selling pressure grows, the token might fall below its key support level of $0.18.
With growing interest and speculation, CHILLGUY is a coin to watch in the meme coin space.
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