Creator of Viral ‘Chill Guy’ Meme Takes Legal Action Against $500M Token

The rise of meme coins in the crypto world has been fast and furious, and one of the latest to take off is CHILLGUY, a Solana-based memecoin that hit a market cap of $455 million just days after its launch. What started as a viral TikTok meme has turned into a major player in the crypto space.

So, how did a simple meme become a multi-million-dollar coin?

Why the Creator Isn’t Happy

Interestingly, Phillip Banks, the creator of the viral “Chill Guy” meme, is unhappy with the rise of the CHILLGUY memecoin, which soared over 1,000% in a single day, hitting a $500 million market cap. Banks, who has legally copyrighted the meme, has announced plans to issue takedown notices for any profit-driven uses, including unauthorized merchandise and the token itself. 

His legal threats have sparked humorous responses on Crypto Twitter, with traders suggesting Banks accept Solana tokens or money to “keep the fun going.”

TikTok Fuels the Trend

The rise of CHILLGUY was driven by TikTok, where users—often “normies” or non-crypto people—posted videos explaining how to buy the token. This caught the attention of many crypto enthusiasts, creating a buzz that spread quickly. The trend led to a speculative frenzy, with traders hunting for the next viral token.

However, like many meme coins, the price surged quickly and could fall just as fast. Currently, CHILLGUY’s value is nearly 50% lower than its peak earlier this week.

The Struggle of Memecoins Today

Meme coins like CHILLGUY thrive on social media trends and online hype. They can bring massive short-term gains but usually lack long-term value. Once the excitement fades, many investors are left with significant losses. This rollercoaster ride highlights the speculative nature of meme-driven tokens, which are often more influenced by internet trends than solid fundamentals or community support.

While CHILLGUY has gained attention, Phillip Banks’ legal actions have introduced uncertainty. His attempts to protect his intellectual property could affect the future of the token. Whether CHILLGUY continues to grow or fades into obscurity depends on how these legal issues unfold.

Since launching on November 19, CHILLGUY has grown rapidly. From a market cap of just $21.25 million, it surged an incredible 2,041%, reaching $455 million. The current price stands at $0.4147, showing a 94.9% increase in just the past 24 hours.

Social Media and Crypto

The rise of CHILLGUY is a clear example of how social media is shaping the cryptocurrency market. Meme coins like CHILLGUY are becoming increasingly popular, especially among Gen Z, who are leading the way in merging social media with crypto. Just yesterday, we reported how a teenager created and sold his own memecoin on social media, making a huge profit in seconds.

Celebrities also help promote these low-budget coins, further driving the trend. However, due to the risks involved, it’s important for investors to do their research before getting involved in these highly speculative assets.

The future of meme coins like CHILLGUY is uncertain. Will they continue to rise, or are they just another passing trend? Time will tell.