Changpeng “CZ” Zhao, the founder and former CEO of Binance, ignited a memecoin craze when he revealed his dog’s name—Broccoli—in a post on X.
This led to a rapid proliferation of Broccoli-themed memecoins, particularly on Solana’s Pump.fun and BNB Smart Chain’s Four.Meme. Some of these coins quickly reached multi-billion-dollar market caps before crashing just as fast.
The Broccoli Memecoin Boom
Within minutes of CZ’s post, opportunistic traders launched hundreds of memecoins themed around his Belgian Malinois, Broccoli. On Solana, one of these coins briefly reached a staggering $1.5 billion valuation.
On BSC, at least 300 Broccoli-related tokens emerged, further fueling speculation. This event mirrored previous episodes where prominent figures inadvertently sparked memecoin frenzies—such as Donald Trump’s memecoin incident in January.
Despite the chaos, CZ clarified that he was not launching a Broccoli memecoin himself:
“I am just posting my dog’s picture and name. I am NOT issuing a meme coin myself. It’s up to the community to do that (or not).”
Market Reactions
Insider trading played a key role in the Broccoli memecoin surge. Blockchain data shows that wallet 0x392eb created a Broccoli-themed token immediately after CZ’s tweet, minting over 110 million tokens for itself. Within minutes, it dumped the entire stack, making $6.5 million in profits. Latecomers faced heavy losses as the memecoins crashed.
While some viewed CZ’s involvement as a lighthearted social experiment, others criticized the phenomenon for enabling pump-and-dump schemes that disproportionately benefit insiders. While CZ maintained a neutral stance, his influence alone was enough to send traders into a frenzy.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Source: https://cryptodaily.co.uk/2025/02/cz-sparks-memecoin-frenzy-with-broccoli-reveal