Solana memecoin Billy (BILLY) has surpassed a $100 million market cap as the cute dog becomes the second-largest token launched through Pump.fun.
Billy was born on Pump.fun in early June. Shortly after its 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 as the original developer disappeared.
According to data from SolScan, the developer sold all of his tokens within 20 minutes of launch in a transaction for $1,116, which would be worth around $6 million at current prices. According to on-chain data, the developer’s wallet does not contain any BILLY.
On the Pump.fun token platform, the developer tried to convince the community to buy other memecoins, including Billy2, Billy3, and Fuck Billy, when the original memecoin Billy started to rise sharply. But none of those projects did well enough to get listed on Raydium, the main target for all tokens on Pump.fun.
Billy had a market cap of around $72 million over the weekend, falling as low as $60 million earlier this week. But over the course of Monday and Tuesday, the memecoin’s price surged 97% to a market cap of $117 million.
BILLY has now surpassed Andrew Tate-endorsed memecoin DADDY, which is down 1.4% year-to-date and now has a market cap of $71 million. This makes BILLY the second-largest token launched by Pump.fun after Michi, which currently has a market cap of $130 million.
It’s still unclear what caused Billy’s price to spike. His Twitter account frequently upload about memes and content creators who go by the name Jonzzy saw one of their posts reach a large audience on the social media platform.
Over the past few days, Billy’s DEX Screener page was hacked by attackers who changed the banner image to a dog of another memecoin. The community was quick to react to take back this page.
Source: X
This is one of the exploits on DEX Screeners that allows malicious actors to carry out a community takeover (CTO) of a project. For example, in May, Dogwifhat’s DEX Screener banner was changed to promote a memecoin called White Girl Wasted.
In the case of BILLY, when the original developer abandoned the project, the community needed to have access to take over its DEX Screener. But the DEX Screener team has not yet figured out how to prevent malicious actors from abusing it.
You can see BILLY prices here.
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According to DeCrypt
