Chillhouse Surpasses Housecoin Market Cap With 168% Jump

Chillhouse, a meme coin created in April to satirize established meme coins Housecoin and Chillguy, has surpassed Housecoin in market capitalization. This development has sparked a wave of even more absurd tokens, such as Farthouse and Chillgull, which reached peak market caps of $4.28 million and $1.13 million, respectively.

Chillhouse was launched as a combination of the TikTok-viral Chillguy and the then-surging Housecoin, which promised to flip the housing market. Over its two-month lifespan, Chillhouse has become a crypto-native inside joke, with the phrase "thoughts on Chillhouse" highlighting the absurdity of crypto investing. From Monday to Thursday, Chillhouse's market cap jumped 168% to $26 million, while Housecoin remained relatively stable at $19 million. However, Chillhouse has since fallen 33% to $17.3 million, below Housecoin, which has continued to stay flat at $19 million.

Housecoin reached its all-time high market cap of $120 million in May, following a series of endorsements from crypto social media influencers. The Solana meme coin brands itself as a “hedge against the housing market,” which its community believes is on the decline. In the U.S., pending home sales are at record lows last seen during the COVID pandemic over the past 20 years. Economists have taken it as a sign that fewer people are looking to buy properties in the U.S..

Similar issues are sweeping the continent. From 2015 to 2023, house prices jumped 48% on average, while rent prices rose 18% from 2010 to 2023. As a result, economists have noted that youth have become nihilistic about their chances of buying property through traditional routes, like investing in stable assets. Instead, many have turned to highly risky investment opportunities in the hopes they can gamble their way to the top. Meme coins are just one example of this financial nihilism at play.

There’s some irony in the fact that Housecoin—a meme coin based on cynicism for the housing market—was flipped by another meme coin that is just as speculative. Meme coins, at their core, do not have any intrinsic value. Instead, the tokens pump and dump based on the perceived cultural relevance of what they represent. This could be a news event, or a predicted event, or the housing market collapsing.

Chillhouse was born as an absurdist meme, poking fun at the ridiculousness of two of the largest meme coins. Now, however, its community has made flipping Chillguy its goal. Chillguy surged to a $775 million market cap in November 2024, as the cartoon of a pretty chill dude went viral on TikTok. Artist Phillip Banks didn’t endorse the meme coin, instead threatening legal action. The token eventually plummeted 94% to $44 million, where it remains today.

For Chillhouse to surpass Chillguy’s current market cap, the meme coin would need to climb 156% from its present valuation. That’s a tough ask, but one that the community has already started trying to tackle. In the latest evolution of the Chillhouse meme, the community is suggesting that the Chillguy cartoon character was responsible for the 9/11 terrorist attack.