Memecoins
Solana Meme Billy Hits $117 Million Market Cap
Solana meme piece Bowl (BILLY) surpassed $100 million market cap as “cute asf” dog becomes second-largest token launched via Pump.fun.
Billy was born on Pump.fun in early June. Shortly 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 seem to be run by community members who stepped in when the original developer disappeared.
According to SolScanThe developer sold all of their tokens within 20 minutes of launch. They sold the vast majority of their tokens in a single transaction for $1,116. That same amount of BILLY would be worth just under $6 million at today’s price. The developer’s wallet still does not contain any BILLY, according to onchain data.
In the token’s Pump.fun thread, you can see the developer struggling to entice the community to buy more coins.Billy2, Billy3And Damn Billy—as Billy’s original meme coin started flying. But none of the others managed to reach Raydium, a key objective for all tokens on Pump.fun.
Billy had a market cap of around $72 million over the weekend, dropping as low as $60 million earlier in the week. But throughout Monday and Tuesday, the meme currency surged 97% to a market cap of $117 million.
The puppy meme token has now surpassed Andrew Tate-backed meme token DADDY, which fell 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 Michiwhose current market capitalization is $130 million.
The cause of Billy’s sudden price increase is unclear. Twitter account regularly posted memes. And pseudonymous content creator Jonzzy saw one of their Billy memes reach a significant audience on the social media platform.
Over the past few days, Billy’s DEX Screener page has been modified by attackers who have changed the banner photo to include another coin dog meme. The community responded quickly to retrieve the pageputting Billy in the foreground once again.
This is part of a 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 changed to promote a meme coin called White Girl Wasted.
In this case, it’s 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 abandoned the project and the community needed access to edit the DEX Screener list.
But the DEX Screener team has yet to find a way to prevent it from being misused by malicious actors.
Edited by Stacy Elliott.