Chillguy crypto gains 617% in a day – Are more gains likely?

• Chillguy crypto needs social media hype to continue growth
• As a newly created token, it has already witnessed exceptional growth

Chillguy [CHILLGUY] crypto has grown remarkably quickly. It began trading on the 15th of November and had a market cap of around $100k at the time. There are close to 1 billion tokens of the meme coin in circulation.

With a price of $0.286, the market cap of the token was at $274 million at press time. This amounts to a 57,222% rally in just under five days. The token continued to flash strong buy signals in the lower timeframe price chart.

The chill guy meme coin comes from an artwork on X and is going viral. It has the potential to spread further, as engagement generally fuels even more engagement. This cycle can last a short while until the next token or event comes along to grab the public’s attention.

Can CHILLGUY crypto keep going?

Source: CHILLGUY/USD on CoinMarketCap

The OBV saw a strong upward burst on the 19th of November on the back of heightened trading volume. It was during this time that CHILLGUY crypto forced its way past the psychological $0.1 level.

The Awesome Oscillator formed lower peaks on the 30-minute chart while the price formed higher highs, outlining a bearish divergence. This could see the meme coin stuck below the $0.29 resistance zone over the next few hours.

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The $0.165 zone is support, and the Supertrend continued to flash a buy signal. The Bollinger bands indicated increased volatility, but also suggested that the band extremes could offer a bit of resistance to the bulls.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.