Chillguy Cryptocurrency Surges to $200M Market Cap with 12x Increase, Driven by TikTok Trend

Nov 20, 2024, 01:28 AM

The cryptocurrency Chillguy has experienced a dramatic surge in popularity, largely driven by its presence on TikTok. Over the past few days, Chillguy has seen its market cap soar from $11 million to over $200 million, with a 12x increase in value in just one day, reaching a peak of $69 million with a 440% increase in value. This rapid rise has attracted 20,000 new holders in 48 hours, signaling a significant influx of retail investors into the crypto space. The phenomenon has been described as a 'paradigm shift' with retail investors, or 'normies', discovering and investing in Chillguy through TikTok, leading to increased engagement and onboarding of new users into the cryptocurrency market. This trend is seen as the beginning of a new wave of retail investment in memecoins, with Chillguy becoming a focal point for this shift. Moonpay, a crypto on-ramp service, also reported its biggest day of onboarding due to the interest in Chillguy and Moonshot.