The Solana-based meme coin Billy (BILLY) has defied expectations. Its developer abandoned the project shortly after launch. Yet the community rallied, propelling it to a $200 million market cap.
Billy's birth on Pump.fun in early June was inauspicious. The developer sold their entire token holdings within 20 minutes of launch. They netted a mere $1,116. That same amount of BILLY would now be worth $8.65 million.
The developer's wallet remains empty of BILLY tokens. Onchain data confirms this fact. As Billy gained traction, the developer attempted to leverage its success. They promoted their newer tokens, claiming association with Billy.
This didn't sit well with the Billy community. Tensions flared on Twitter. The developer threatened to delete all project-related social media accounts. It was a make-or-break moment.
"It went from fear and panic to this is an opportunity," said Minh Dynasty, a Billy community takeover (CTO) member. He shared this on the 'What's the Meta?' podcast. "There were like 300 people on Telegram all trying to give their input."
The community sprang into action. Within hours, they created a new Telegram group, Twitter account, and website. Meanwhile, a core team updated DEX Screener with the new links.
Community takeovers are commonplace in the meme coin world. Developers often launch tokens for quick profits. But when investors see potential, they take charge. It's a peculiar phenomenon in the crypto space.
Minh Dynasty likened it to a school project. "The teacher isn't like 'you are the leader,'" he said. "It's four people. And somehow they have to find ways to work together."
Organization was key. Leaders emerged naturally. Collaboration became the norm. In just a month, a dedicated group formed around Billy's future.
The community takeover now involves up to 100 people. They handle various roles, from marketing to social media management. It's a decentralized effort, driven by shared goals.
Billy's Twitter following has grown to 11,000. Posters have appeared across New York City. The coin's popularity has skyrocketed as a result.
Billy has become Pump.fun's largest meme coin. Its market cap peaked at $215 million. All thanks to a community that refused to let it fade away.
"Billy represents crypto. The optimal crypto experience," Minh Dynasty concluded. It's about working together, having fun, and potentially making money along the way.
The Billy saga is far from over. Its journey from abandoned project to multi-million dollar asset is a testament to community power in crypto. It's a dog-eat-dog world out there, but Billy's bark seems to have some bite.