Memecoins
Solana Meme Coin Billy Soars to $117 Million Market Cap
Solana Meme Coin truncheon (BILLY) has surpassed the $100 million market cap as the “cute as a loaf” dog became the second-largest token launched via Pump.fun.
Billy was born on Pump.fun in early June. Soon after launch, the developer sold all of his tokens and the community took over the project. Now, the project’s social media accounts, Telegram, etc. all appear to be run by community members who stepped in when the original developer disappeared.
Second SolScanThe developer sold all of their tokens within 20 minutes of launching. They sold most of their tokens in one transaction for $1,116. That same amount of BILLY would be worth just under $6 million at today’s price. The developer’s wallet does not yet contain any BILLY, according to onchain data.
In the Pump.fun token thread, you can see the developer scrambling to convince the community to buy more coins:Billy2, Billy3AND Fuck Billy—while Billy’s original meme coin started to take off. But none of the others did well enough to get to Raydium, a key target for all tokens on Pump.fun.
Billy reached a market cap of around $72 million over the weekend, falling as low as $60 million earlier in the week. But over Monday and Tuesday, the meme coin surged 97% to a market cap of $117 million.
The puppy meme coin has now surpassed the Andrew Tate-backed DADDY meme coin, which dropped 1.4% over the same period and now has a market cap of $71 million. This makes BILLY the second largest token launched by Pump.fun behind Michiwhich currently has a market cap of $130 million.
The cause of the sudden increase in the price of Billy is unclear. Twitter Accounts He regularly posted memes. And pseudonymous content creator Joanna saw one of their Billy memes reach a significant audience on the social media platform.
Over the past two days, Billy’s DEX Screener page has been modified by attackers who have changed the banner photo to include another dog coin memeThe community reacted quickly to reclaim the pageputting Billy back in the spotlight once again.
This is part of a well-known DEX Screener exploit that allows malicious actors to perform a community takeover (CTO) of a project on DEX Screener. For example, in May, Dogwifhat’s DEX Screener banner was modified to promote a meme coin called White Girl Wasted.
In this case, it should be a feature, not a bug. Allowing communities to update DEX Screener pages is possible because of situations like the one that happened with Billy. The original developer left the project and the community needed access to edit the DEX Screener list.
But the DEX Screener team has not yet found a way to prevent it from being abused by malicious people.
By Stacy Elliott.