Chillhouse, a parody meme coin launched in April, has overtaken Housecoin in market capitalization, sparking a wave of absurd new tokens like Farthouse and Chillgull. Initially created to mock established meme coins, Chillhouse's rise has become a crypto inside joke, with its community embracing the phrase "thoughts on Chillhouse" to highlight the absurdity of crypto investments. From Monday to Thursday, Chillhouse surged 168% to a $26 million market cap, while Housecoin remained stagnant at $19 million. However, Chillhouse has since dropped 33% to $17.3 million. Housecoin, which reached a peak of $120 million in May, is seen as a hedge against a declining housing market, as U.S. pending home sales hit record lows. In Europe, rising property prices have led to a similar sentiment among youth, pushing them towards risky investments like meme coins. The irony lies in Housecoin's original cynicism towards the housing market being flipped by another speculative meme coin. Read more AI-generated news on: https://app.chaingpt.org/news