CZ’s Dog Sparks Memecoin Frenzy As Trader Pockets $28M In Profits

Binance founder Changpeng “CZ” Zhao inadvertently set off a memecoin explosion after revealing his dog’s name, Broccoli, on X.com.

Within seconds of his post, hundreds of “BROCCOLI”-themed tokens flooded the market, with traders scrambling to capitalize on the hype.

One crypto trader reportedly made $27.8 million in profits by quickly buying multiple Broccoli-named tokens across various platforms, including Solana’s Pump.fun and BNB Chain’s Four.Meme, according to blockchain intelligence firm Lookonchain. The trader, referred to as a “sniper,” spread holdings across multiple wallets before cashing out.

CZ distances himself, but speculation thrives

CZ, who has previously voiced skepticism about memecoins, clarified that he had no role in launching a token. “I’m 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),” he wrote on X.

Still, he hinted at engaging with the trend, saying he may interact with a few popular memecoins on BNB Chain.

Despite the profits made by traders, allegations of insider trading have emerged. Pseudonymous trader DoctorDeFi suggested that some of the wallets linked to Broccoli tokens may belong to the developers themselves, raising concerns over coordinated trading activity.

The Broccoli memecoin surge comes after BNB Chain’s recent memecoin boom, fueled by the Test (TST) memecoin, which spiked over 2,000% after CZ mentioned it on X.

The trend has also contributed to PancakeSwap surpassing Uniswap as the leading decentralized exchange (DEX) by trading volume. Over the past 24 hours, PancakeSwap saw $3 billion in trades, while its native token CAKE skyrocketed 100% in a week.

SPACE ID’s Harrison Seletsky believes the memecoin craze could be the start of a new season for speculative trading on BNB Chain, drawing more users and liquidity to the network.

Meanwhile, memecoin speculation is expanding beyond crypto circles. The launch of Trump and Melania tokens on Solana fueled investor excitement but also drawn concerns over SEC scrutiny.