A Solana-based memecoin trader has made headlines after transforming a $160 investment into $5.6 million by riding the wave of a viral internet meme.

On November 15, blockchain data from Solscan revealed that a trader purchased the “Just a chill guy” (CHILLGUY) memecoin in two separate transactions. The trader initially exchanged 0.50 SOL (approximately $107) for 9.6 million CHILLGUY tokens through the Solana memecoin generator platform Pump.fun. Hours later, they spent another 0.246 SOL (around $51) for an additional 2.8 million tokens.

CHILLGUY’s launch coincided with the viral rise of the “Just a chill guy” meme on social media, driving the token’s value to skyrocket. By November 27, the memecoin reached a peak market capitalization of $643 million, trading at $0.58 per token. The trader cashed out early, selling 2.8 million tokens for 149 SOL, roughly $35,000. However, the remaining 9.6 million tokens are now valued at a staggering $5.6 million.

While traders celebrate the financial success, the artist behind the meme, known as PhillipBankss on X, has publicly condemned the unauthorized use of his artwork. Claiming he has copyrighted the "chill guy" character, the artist announced plans to issue takedown notices against for-profit use of his creation. Despite his objections, legal enforcement may prove challenging due to the decentralized and anonymous nature of memecoin launches.

Community members argue the crypto asset is now an immutable part of the blockchain, sparking debates over copyright enforcement in the world of decentralized finance. Whether CHILLGUY’s rise will continue or face obstacles, its meteoric journey underscores both the opportunities and challenges in the memecoin market.