Binance Founder Sparks Memecoin Frenzy with Dog’s Name

Binance founder Changpeng “CZ” Zhao recently ignited a memecoin frenzy after revealing his dog’s name is Broccoli and sharing a photo of his pet. Following his post on X.com, a surge of newly minted memecoins with the ticker “BROCCOLI” flooded the market, stirring speculation across the crypto community.

> “If you had asked me before last night, I would never have imagined that Broccoli would be part of the blockchain ecosystem, but here we are,” CZ remarked on X.com. He clarified, “I am just posting my dog’s picture and name, and I am NOT issuing a meme coin myself. It’s up to the community to do that (or not).”

He also hinted at engaging with the trend, stating that he will likely interact with popular meme coins on the BNB Chain (BSC).

The revelation came after a user named Vee asked CZ about his pets. CZ shared that his dog is a Belgian Malinois, not a Shiba Inu, and teased about a potential memecoin inspired by his dog, promising to post a picture later. When he posted the image, it led to a wave of new memecoins using the ticker “BROCCOLI.”

This follows the creation of the Test (TST) memecoin by the BNB Chain team. Although initially not meant for trading, CZ’s mention on X led to a massive price surge of over 2,000%. TST reached an all-time high of $0.56 but has since retraced to around $0.15.

In a contrast to his current playful engagement with memecoins, CZ had previously expressed some reservations about the trend, suggesting that the proliferation of memecoins was becoming a bit eccentric.

PancakeSwap Surpasses Uniswap in Trading Volume

In related developments, PancakeSwap has overtaken Uniswap in 24-hour trading volume, exceeding $3 billion and securing its position as the top decentralized exchange (DEX). Over the past week, PancakeSwap’s trading volume reached over $21 billion.

Accompanying this growth, the BNB token rose by 9% in 24 hours and over 21.5% in a week. PancakeSwap’s native token, CAKE, soared 40% in just one day and is more than 100% up over the week.

An analyst linked the increased activity on PancakeSwap to the speculative frenzy surrounding the TST memecoin and CZ’s comments about his pet dog, believing it could attract more liquidity and users to BNB Chain.

> “This just shows the nature of the cryptocurrency market, where something seemingly insignificant can blow up and become incredibly popular when it follows natural narratives and has organic interest,” said SPACE ID’s Harrison Seletsky.

He added that the appetite within the BNB Chain community for innovative ideas and creative narratives indicates a fun engagement in the crypto cycle.

> “TST could be the catalyst for the start of a memecoin season on BNB Chain,” Seletsky noted, expressing optimism about the future of memecoins enriching the BNB Chain ecosystem and its user base.