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Chillguy (CHILLGUY) Memecoin Price Drops 20% Over Plagiarism Claims
Chillguy, a popular meme coin that has been making waves in the cryptocurrency market, has taken a significant hit after allegations of plagiarism surfaced. The token’s price has plummeted by 20%, dropping from $0.22 to $0.1732 per token.
The controversy began when a Reddit user shared an image of a Thai booklet featuring a character called RELAXBOY, which bears an uncanny resemblance to Chillguy’s mascot, “Just a Chill Guy.” The similarity has sparked intense debate and scrutiny in the crypto community, with some users suggesting that the meme may not be entirely original.
However, this is not the first time that Chillguy has faced backlash. Earlier, Philip Banks, who claims to have created the original “Just a Chill Guy” meme, issued legal warnings to chillguy’s creators over the use of the image without permission. This move had already led to a significant drop in the token’s price.
The current plagiarism allegations have only exacerbated the situation, with many investors and enthusiasts questioning the legitimacy of Chillguy’s content. The selling pressure has been immense, resulting in a massive loss in market value, which now stands at $173.58 million.
At its peak, CHILLGUY had reached a staggering market capitalization of $650 million and was listed on prominent exchanges such as Bybit and KuCoin. However, the recent developments have raised serious doubts about Chillguy’s future prospects.
The cryptocurrency market is no stranger to controversy and plagiarism allegations are not uncommon in this space. Nevertheless, the current situation has significant implications for Chillguy’s reputation and viability. As the story continues to unfold, it remains to be seen whether Chillguy can recover from these blows or if its market value will continue to plummet.
The article highlights that Chillguy’s creators must take immediate action to address these allegations and restore investor confidence in the project.
Source: coinpedia.org
