NAIROBI (CoinChapter.com) — Solana memecoin Billy (BILLY) has surged past a $100 million market cap, making it the second-largest token launched on Pump.fun, just behind Michi.
Billy, which debuted on Pump.fun in early June, saw its market cap soar to $117 million, which later dropped to $115 million.
Billy’s origin traces back to early June when its developer sold all his tokens shortly after launch. According to SolScan, the developer liquidated his holdings within 20 minutes, netting $1,116.
The amount would now be worth close to $6 million at today’s price. With this move, the developer kind of had his personal Bitcoin pizza day. Community members took over the project after the developer’s exit, managing social media and other platforms.
In the token’s Pump.fun thread, you can see the developer scrambling to get the community to purchase other coins—Billy2, Billy3, and Fuck Billy—as the original Billy memecoin started to fly. However, none of them did well enough to make it to Raydium, a key goal for all tokens on Pump.fun.
Billy Coin Surges Past Rivals Amid DEX Hijack Drama
Last weekend, Billy’s market cap stood at $72 million. It dipped to $60 million at the start of the week but surged 97% on Monday and Tuesday, reaching $115 million. Billy has now surpassed celebrity meme coins such as DADDY, MOTHER, JASON, and HERO.
The reason behind Billy’s sudden price jump remains unclear, though a viral meme by content creator Jonzzy significantly boosted its popularity. Billy’s price surged from a low of $0.021 on June 24 to an all-time high of $0.1320, aligning it with major memecoins like Shiba Inu and Baby Dogecoin.
Billy now boasts over 15,000 holders, with most trading occurring on Solana-based decentralized exchanges like Raydium, Meteora, and Orca. However, the rally faces potential risks if insiders start selling off their tokens, a common issue with memecoins.
The memecoin faced challenges, including a recent attack on its DEX Screener page. Attackers altered the banner photo to feature another memecoin’s dog. The community responded swiftly, reclaiming the page and reinstating Billy’s prominence.
This incident highlights a known DEX Screener exploit that allows malicious actors to perform community takeovers (CTOs). While the feature enables community-led projects to update their listings, it also poses a risk of abuse.
