- Dog coin Billy has surpassed a $100 million market capitalization to rank second among all meme coins on Pump.fun, just behind Michi.
Coin of Solana meme The adorable dog named Billy (BILLY) has surpassed a $100 million market capitalization and is now the second-largest token to be introduced via Pump.enjoyable.
Early in June, Billy was born on Pump.fun. The developer sold all of his tokens shortly after debut, and the community took over the project. The project now appears to be managed by community members who took over when the original developer vanished, as seen by the social media accounts, Telegram, etc.
Within 20 minutes of debut, the developer sold every token he had, according to SolScan. For $1,116, they sold the great bulk of their tokens in a single transaction. In today’s currency, that same amount of BILLY would be somewhat less than $6 million. Onchain data indicates that the developer’s wallet is still empty of BILLY.
As the first Billy joke coin began to gain popularity, you can see the token’s developer frantically trying to persuade the community to buy additional coins—Billy2, Billy3, and Fuck Billy—in the thread on Pump.fun. However, none of the others have performed well enough to reach Raydium, which is a crucial objective for all tokens on Pump.enjoyable.
Billy’s market value dropped to as low as $60 million at the beginning of the week, and it was roughly $72 million during the weekend. However, the meme coin surged 97% higher to a market cap of $117 million on Monday and Tuesday.
With a market valuation of $71 million, the puppy meme coin has already surpassed the DADDY meme coin, which was sponsored by Andrew Tate and fell 1.4% during the same period. Thus, BILLY is now the second-largest token that Pump.fun has ever created, behind Michi, which is presently valued at $130 million.
It’s unknown what caused Billy’s price to soar so abruptly. It has been frequently sharing memes on Twitter. Additionally, one of the Billy memes created by the anonymous content producer Jonzzy gained a sizable following on the social media network.
Attackers modified Billy’s DEX Screener page over the course of a few days, adding the dog of another meme coin to the banner shot. The page was swiftly reclaimed by the community, placing Billy front and center once more.
This is a component of a well-known DEX Screener vulnerability that lets bad actors take control of a project on DEX Screener through a community takeover (CTO). For instance, Dogwifhat modified its DEX Screener banner back in May to advertise the meme coin White Girl Wasted.
This is intended to be a feature rather than a bug. Circumstances such as Billy’s have made it possible for communities to edit DEX Screener pages. In order to modify the DEX Screener listing, the community needed access after the original developer abandoned the project.
However, the DEX Screener team is still unable to prevent bad actors from abusing it.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
