CHILLGUY, a meme coin on the Solana blockchain, quickly captured the attention of the crypto community upon its launch. Rooted in the viral TikTok meme character known as Chill Guy, the coin witnessed phenomenal growth in its early days. However, the journey hasn’t been entirely smooth. The creator of the Chill Guy character, Philip Banks, raised significant concerns regarding the unauthorized use of his art in the meme coin project. Recently, an Instagram post from Banks has suggested a resolution to this conflict. Interested in the intricate details? Keep reading to uncover the latest developments!
Philip Banks Announces Licensing Agreement
For some time, speculation was rife that the CHILLGUY team would reach out to Philip Banks for his endorsement and permission. In a recent Instagram post, Banks revealed that the team had indeed contacted him, and after extensive negotiations, they have successfully reached a licensing and intellectual property rights agreement. This announcement marks a pivotal moment, as it dispels any lingering doubts about the legitimacy and future of the meme coin project.
Initially, Banks shared updates about these discussions on his X handle. Unfortunately, his X account was compromised, prompting him to use Instagram to communicate the important news. This licensing agreement not only ends the dispute but also potentially paves the way for new opportunities for the CHILLGUY coin.
Current Market Performance of CHILLGUY
When CHILLGUY first hit the market, it was priced at approximately $0.00730. Between November 18 and 22, the coin experienced an astounding surge, growing by 7094.33%. By November 27, the price had reached a remarkable peak of $0.6328. However, the market’s enthusiasm has since waned, and the value of CHILLGUY has been on a gradual decline.
On December 2, the price fell to $0.377, and by December 10, it had further decreased to $0.2939. Over the past week, the CHILLGUY market has encountered a substantial decline of 28.1%, with a more than 13.4% drop occurring within the last 24 hours alone. Currently, the coin’s price stands at $0.321.
In conclusion, while the recent licensing agreement represents a significant and positive milestone for the CHILLGUY team, the coin’s current market performance remains a concern for investors and stakeholders. The resolution of intellectual property issues offers hope for future stability and growth, but the volatility of the market underscores the unpredictable nature of meme coins.
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