Developer Sells Entire Billy Coin Holdings for Meager 1K Despite Impressive 117M Market Cap

Billy coin achieves a market capitalization of $117 million.
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NAIROBI (CoinChapter.com) — The popular Solana memecoin known as Billy (BILLY) has surpassed a $100 million market cap, making it the second-largest token launched on Pump.fun, trailing only behind Michi.
Billy made its debut on Pump.fun in early June and quickly saw its market cap skyrocket to $117 million, before slightly dropping to $115 million.


Billy Coin price chart.
Source:
Dexscreener
Billy’s origin can be traced back to early June when the developer of the coin sold all of his tokens shortly after the launch. According to
SolScan
, the developer liquidated his holdings within 20 minutes, earning $1,116.


The value of the tokens sold by the developer would now be close to $6 million at the current price. With this move, the developer experienced his own personal Bitcoin pizza day. After the developer’s exit, community members took over the project and managed its social media and other platforms.
In the Pump.fun thread dedicated to the token, one can observe the developer’s frantic attempts to persuade the community to purchase other coins such as
Billy2
,
Billy3
, and
Fuck Billy
, as the original Billy memecoin started to gain traction. However, none of these tokens performed well enough to be listed on Raydium, which is a significant goal for all tokens on Pump.fun.
Billy Coin Surges Ahead of Competitors Amidst DEX Hijack Drama
Over the past weekend, Billy’s market cap stood at $72 million. It briefly dipped to $60 million at the beginning of the week but then experienced a massive surge of 97% on Monday and Tuesday, reaching $115 million. As a result, Billy has now surpassed other celebrity meme coins like DADDY, MOTHER, JASON, and HERO.
The reason behind Billy’s sudden price jump remains unclear, although the popularity of a viral meme created by content creator
Jonzzy
has significantly contributed to its success. The price of Billy coin surged from a low of $0.021 on June 24 to an all-time high of $0.1320, putting it on par with major memecoins like
Shiba Inu
and
Baby Dogecoin
.
Billy currently boasts a community of over 15,000 holders, with the majority of trading occurring on Solana-based decentralized exchanges such as Raydium, Meteora, and Orca. However, the rally may face potential risks if insiders decide to sell off their tokens, which is a common issue with memecoins.


Billy Coin DEX Screener Page Hijacked.
Source:
Kakashi
The memecoin encountered some challenges, including a recent attack on its DEX Screener page. The attackers replaced the banner photo with a dog from another memecoin. However, the community promptly responded, reclaiming the page and restoring Billy’s prominence.
This incident highlights a known vulnerability in the DEX Screener system that allows malicious actors to execute community takeovers (CTOs). While this feature enables community-led projects to update their listings, it also poses a risk of exploitation.