Summary: Binance founder CZ’s pet dog has sparked a memecoin frenzy after he shared a picture online. One of the many “Broccoli” coins launched in response skyrocketed to a $400 million market cap within an hour before settling at $176 million. CZ distanced himself from the hype, warning against quick profits in memecoins.
Crypto traders wasted no time after Binance founder Changpeng “CZ” Zhao posted a picture of his pet dog. As expected, hundreds of memecoins named “Broccoli” surfaced within hours, with one shooting up to a staggering $400 million market cap in just 60 minutes.
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The Broccoli memecoin is currently trading at $0.1768, having reached an all-time high of $0.42 during its first-day trading frenzy. It now carries a market capitalization of $176 million.
Reacting to the overnight hype, CZ took to X to post his position in a since-deleted post, saying he does not promote or endorse any memecoins. He had previously joked that every time he shares a picture of his pet, traders rush to launch related tokens. In a separate post, he cautioned against the lure of quick profits in memecoins.
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For now, multiple Broccoli-themed tokens continue to be traded across decentralized exchanges like pump.fun, with most of them built on Binance’s BNB Chain.
