CandleFocus CHILLGUY meme coin could be at risk as smart money sells
2024-11-27
Author: Content Editor
Just a chill guy (CHILLGUY), a viral meme coin, experienced a significant rally supported by listings on top crypto exchanges. Its price reached a record high of $0.6575, with a market cap of nearly $600 million. The rally was driven by FOMO among traders and listings on exchanges like Binance Futures, Bitget, KuCoin, Woo, and BitMart. However, there are potential risks, including the possibility of the coin following the trend of other hyped tokens that have experienced a sharp decline. Moreover, the creator of CHILLGUY has threatened legal action against commercial use of the coin, although its trading is mostly conducted on international exchanges. There are signs that smart money investors are starting to book profits, as indicated by a decrease in the number of smart money wallets and an increase in the number of tokens on exchanges. The future price of CHILLGUY may be influenced by the performance of Bitcoin, Solana, and other cryptocurrencies.
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