Flipping Housecoin? Parody Solana Meme Coin Overtakes Token It Was Created to Laugh At

Absurdist Solana meme coin Chillhouse flipped one of many two tokens that it was created to poke enjoyable at on Thursday.

Chillhouse’s flipping of Housecoin prompted a wave of much more silly tokens to take over the trenches. For instance, Farthouse and Chillgull—which mixes Chillguy with a seagull, for some motive—hit peak market caps of $4.28 million and $1.13 million amid the chaos.

Chillhouse was launched in April as a mix of the beforehand TikTok-viral Chillguy and the then-surging Housecoin, which launched with guarantees to flip the housing market. Over its two-month lifespan, Chillhouse has turn out to be a crypto-native inside joke with “ideas on Chillhouse” changing into a meme that highlights the ridiculousness of crypto investing.

From Monday to Thursday, in accordance with DEX Screener, Chillhouse jumped 168% to a $26 million market cap whereas Housecoin traded sideways and has not too long ago settled at $19 million. Chillhouse has since fallen 33% to $17.3 million, beneath Housecoin, which has continued to remain flat at $19 million.

Housecoin reached its all-time excessive market cap of $120 million in Could, following a sequence of endorsements from crypto social media influencers. The Solana meme coin manufacturers itself as a “hedge in opposition to the housing market,” which its group believes is on the decline.

Within the U.S., pending house gross sales are at document lows final seen through the COVID pandemic over the previous 20 years, in accordance with the Nationwide Affiliation of Realtors. Economists have taken it as an indication that fewer individuals need to purchase properties within the U.S..

In the meantime, in Europe, comparable points are sweeping the continent. In accordance with the European Parliament, from 2015 to 2023, home costs jumped 48% on common, whereas lease costs rose 18% from 2010 to 2023.

Consequently, economists have famous that youth have turn out to be nihilistic about their probabilities of shopping for property by means of conventional routes, like investing in steady property just like the S&P 500. As an alternative, many have turned to extremely dangerous funding alternatives within the hopes they will gamble their technique to the highest. Meme cash are only one instance of this monetary nihilism at play.

So there’s some irony in the truth that Housecoin—a meme coin primarily based on cynicism for the housing market—was flipped by one other meme coin that’s simply as speculative.

Meme cash, at their core, should not have any intrinsic worth. As an alternative, the tokens pump and dump primarily based on the perceived cultural relevance of what they characterize. This might be a information occasion, like a celeb dying, or a predicted occasion, like a person beating the document for touring to all 50 U.S. States… or the housing market collapsing.

Chillhouse was born as an abursidist meme, poking enjoyable on the ridiculousness of two of the most important meme cash. Now, nevertheless, its group has made flipping Chillguy its purpose.

Chillguy surged to a $775 million market cap in November 2024, because the cartoon of a reasonably chill dude went viral on TikTok. Artist Phillip Banks didn’t endorse the meme coin, as an alternative threatening authorized motion. The token finally plummeted 94% to $44 million, the place it stays at present.

For Chillhouse to surpass Chillguy’s present market cap, the meme coin would want to climb 156% from its current valuation. That’s a tricky ask, however one which the group has already began attempting to deal with. Within the newest evolution of the Chillhouse meme, the group is suggesting that the Chillguy cartoon character was chargeable for the 9/11 terrorist assault.

Edited by Stacy Elliott.