‘Just a Chill Guy’ Artist Takes Legal Action Against Coin Boom
Chill Guy Meme Coin Legal Case: What’s Happening?
Artist Phillip Banks Threatens Legal Action Over Unauthorized Use of Viral "Chill Guy" Meme in Solana Meme Coin
Phillip Banks, the creator of the iconic "Chill Guy" meme, has issued a warning on Twitter about taking legal action against meme coins that use his artwork without permission.
One of the coins in question, Chill Guy, built on the Solana blockchain, experienced a meteoric rise, reaching a market cap of $500 million. However, Banks’ legal threat caused a sharp reaction in the market, with the coin’s value plummeting by 54% to $220 million within two hours of his statement.
Despite the drop, Chill Guy has shown resilience, climbing back to a $375 million market cap. The token, which launched less than a week ago, saw a massive surge of over 400% on Wednesday before the controversy erupted.
“Chill Guy is officially copyrighted—legally locked in,” Phillip Banks announced on Twitter after a short break from the platform. He added, “I’ll be taking down anything profit-related using it in the next few days.”
Memecoins Continue to Surge in 2024, But Chill Guy Faces Legal Trouble
Meme coins are still making waves in 2024, with meme-based cryptocurrencies now commanding a massive $115.94 billion market cap and generating $27.47 billion in trading volume. Among the top performers is Chillguy, a meme coin that has been trending for days, achieving new highs in its price and capturing the attention of the crypto community. Investors are asking where to buy Chill Guy Coin as it gains traction, with Chill Guy meme crypto continuing to spark interest across social media platforms.
However, Chill Guy's ascent may soon hit a major roadblock. The creator of the Chillguy meme has threatened legal action, accusing users of copyright violations for using the image tied to the meme. The Chill Guy meme coin legal case could result in serious consequences for the token, potentially disrupting its market dominance.
For those still keen on getting involved in the trend, the Chillguy Solana network has become a popular choice for transactions, but the legal challenges surrounding the coin may soon change the game. Investors are left to wonder: is this just another just a chill guy meme coin story, or is it the beginning of a larger trend in meme coins?
Chillguy Memecoin: The Viral Sensation Taking Over Crypto
Chillguy Memecoin was created by artist Philip Banks in 2023, featuring a cartoonish animal in a sweatshirt, jeans, and sneakers, with hands in its pockets for a relaxed look.
The meme went viral on TikTok, inspiring hundreds of memes and gaining widespread attention.
In 2024, a Solana-based meme cryptocurrency was launched, referencing Chillguy, which quickly surged toward a $500M market cap in just three days.
The coin has attracted thousands of investors and has gained significant traction in the crypto market.
El Salvador President Nayib Bukele endorsed the meme by sharing it, further boosting its popularity.
Early buyers of Chill Guy memecoin have seen huge returns. A crypto trader invested $233.89 during the Pump.fun phase.
Within 30 hours, the token surged 38,800%, turning the trader's investment into nearly $1M.However, some traders sold too early; one could have turned a $205 investment into $10M but sold prematurely. This highlights the bullish potential of the token.
Chillguy memecoin skyrocketed by 4000% in just 24 hours.
