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The price of Chillguy (CHILLGUY), a popular meme coin, has taken a sharp hit after allegations of plagiarism surfaced. The token’s value has plummeted by a significant 20%, sliding from $0.22 to $0.1732 in the past day. This decline is largely attributed to the growing concerns over the authenticity of its mascot, “Just a Chill Guy,” which bears an uncanny resemblance to a Thai booklet character named RELAXBOY.
It was initially believed that the Chillguy mascot had originated from a unique concept, but recent findings have shed doubt on this claim. A Reddit user brought forth evidence in the form of an image featuring the RELAXBOY character, sparking heated debates and speculation about potential copyright infringement.
The controversy surrounding Chillguy’s intellectual property has taken its toll on the market value of the meme coin, causing it to lose a substantial amount of ground. As a result, its market capitalization now stands at $173.58 million, down significantly from its previous peak of $650 million when it was listed on prominent exchanges such as Bybit and KuCoin.
The recent development has put immense pressure on Chillguy’s value, with investors growing increasingly wary due to the potential legal repercussions of copyright infringement.
Source: coinpedia.org
