NAIROBI (CoinChapter.com) — Solana memecoin Billy (BILLY) has surged previous a $100 million market cap, making it the second-largest token launched on Pump.enjoyable, simply behind Michi.
Billy, which debuted on Pump.enjoyable in early June, noticed its market cap soar to $117 million, which later dropped to $115 million.
Billy’s origin traces again to early June when its developer offered all his tokens shortly after launch. In line with SolScan, the developer liquidated his holdings inside 20 minutes, netting $1,116.
The quantity would now be value near $6 million at at the moment’s price. With this transfer, the developer type of had his private Bitcoin pizza day. Group members took over the venture after the developer’s exit, managing social media and different platforms.
Within the token’s Pump.enjoyable thread, you’ll be able to see the developer scrambling to get the neighborhood to buy different cash—Billy2, Billy3, and Fuck Billy—as the unique Billy memecoin began to fly. Nevertheless, none of them did properly sufficient to make it to Raydium, a key purpose for all tokens on Pump.enjoyable.
Billy Coin Surges Previous Rivals Amid DEX Hijack Drama
Final weekend, Billy’s market cap stood at $72 million. It dipped to $60 million at first of the week however surged 97% on Monday and Tuesday, reaching $115 million. Billy has now surpassed celeb meme cash corresponding to DADDY, MOTHER, JASON, and HERO.
The rationale behind Billy’s sudden price soar stays unclear, although a viral meme by content material creator Jonzzy considerably boosted its recognition. Billy’s price surged from a low of $0.021 on June 24 to an all-time excessive of $0.1320, aligning it with main memecoins like Shiba Inu and Child Dogecoin.
Billy now boasts over 15,000 holders, with most buying and selling occurring on Solana-based decentralized exchanges like Raydium, Meteora, and Orca. Nevertheless, the rally faces potential dangers if insiders begin promoting off their tokens, a typical challenge with memecoins.
The memecoin confronted challenges, together with a latest assault on its DEX Screener web page. Attackers altered the banner photograph to function one other memecoin’s canine. The neighborhood responded swiftly, reclaiming the web page and reinstating Billy’s prominence.
This incident highlights a recognized DEX Screener exploit that enables malicious actors to carry out neighborhood takeovers (CTOs). Whereas the function permits community-led tasks to replace their listings, it additionally poses a danger of abuse.