Memecoin Trader Makes 38,399x Return on His Investment – Here is How

Bitcoin has been steadily gaining traction, but the spotlight has recently shifted back to memecoins, which continue to capture the imagination of investors with their high-risk, high-reward appeal.

One trader exemplified this trend by reportedly turning a $160 investment into a staggering $6.14 million through a Solana-based memecoin called “Just a Chill Guy” (CHILLGUY).

The coin, inspired by a viral cartoon, has skyrocketed in popularity over the past month.

Blockchain tracker Lookonchain revealed that the trader initially bought 12.5 million CHILLGUY tokens for 0.75 SOL and later sold a portion, netting $35,400. With 9.62 million tokens still in their wallet, the trader’s total profit stands at over $6 million—a 38,399x return on the original investment.

However, the memecoin’s viral rise faces a legal hurdle. Phillip Banks, the creator of the original “Chill Guy” cartoon, announced plans to take legal action against unauthorized uses of his copyrighted work.

On the platform X, Banks warned that takedowns targeting for-profit ventures related to the cartoon are imminent, after which the token’s price plummeted.