Solana Meme Coin Billy Soars to $117 Million Market Cap

Solana meme coin Billy (BILLY) has broken past a $100 million market cap as the “cute asf” dog becomes the second-largest token launched through Pump.fun.

Billy was born on Pump.fun in early June. Soon after launch, the dev 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 dev disappeared.

According to SolScan, the dev sold all of his tokens within 20 minutes of launch. They sold the large majority of their tokens in one transaction for $1,116. That same amount of BILLY would be worth just shy of $6 million at today’s price. The dev’s wallet still doesn’t hold any BILLY, according to onchain data.

locked in rn pic.twitter.com/dlN2i4i2ai

— Billy (@billycoinsolana) June 30, 2024

In the token’s Pump.fun thread, you can see the dev scrambling to get the community to purchase other coins—Billy2, Billy3, and Fuck Billy—as the original Billy meme coin started to fly. But none of the others has done well enough to make it to Raydium, a key goal for all tokens on Pump.fun.

Billy was at a market cap of approximately $72 million over the weekend, falling as low as $60 million as the week started. But throughout Monday and Tuesday, the meme coin soared 97% to a market cap of $117 million.

The puppy meme coin has now leaped past Andrew Tate-endorsed meme coin DADDY, which dropped 1.4% over this same period and now has a market cap of $71 million. That makes BILLY the second-largest Pump.fun launched token behind Michi, which currently has a market cap of $130 million.

The cause of the sudden Billy price jump is unclear. Its Twitter account has been regularly posting memes. And pseudonymous content creator Jonzzy saw one of their Billy memes reach a significant audience on the social media platform.

Wait, he has a show on Netflix?… $BILLY pic.twitter.com/vQIDZpL7fs

— Jonzzy (@jonzzyTV) July 2, 2024

Over the past couple days, Billy’s DEX Screener page was altered by attackers who changed the banner photo to include another meme coin’s dog. The community reacted quickly to reclaim the page, putting Billy front and center 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, back in May, Dogwifhat’s DEX Screener banner was changed to promote a meme coin called White Girl Wasted.

In this case, it’s meant to be a feature—not a bug. Allowing communities to update DEX Screener pages is possible because of situations like what happened with Billy. The original dev abandoned the project and the community needed access to change the DEX Screener listing.

But the DEX Screener team hasn’t yet found a way to stop it being abused by malicious actors.

Edited by Stacy Elliott.

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