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CZ's Dog Name Sparks Memecoin Frenzy

Coin WorldThursday, Feb 13, 2025 5:12 pm ET

1min read

Binance founder and former CEO Changpeng "CZ" Zhao sparked a wave of memecoin frenzy when he revealed the name of his dog, a Belgian Malinois, on X on Feb. 13. The name, "Broccoli," has since been adopted by numerous memecoins on popular launching platforms such as Solana's Pump.fun and BNB Smart Chain's Four.Meme.

At the time of writing, there were at least 480 Broccoli-themed coins on Solana's Pump.fun and 300 CZ-dog-themed coins on BNB Smart Chain's Four.Meme. Some of these memecoins have gained significant traction, with one Solana Broccoli memecoin reaching a $1.5 billion market capitalization on Feb. 13.

CZ clarified that he was not launching a memecoin of his own, stating that it was "up to the community to do that (or not)."

Meanwhile, PancakeSwap, a decentralized exchange (DEX) launched on BSC in September 2020, recorded $3 billion in trading volume over the past 24 hours, according to DefiLlama. The exchange has taken over the No. 1 spot among its peers, surpassing Uniswap, Raydium, Meteora, and Orca.

Memecoins have been a subject of controversy in recent months, with some blaming them for a surge in Trump-related scam coins that tricked investors. However, others seem to enjoy the hot-potato nature of trading them.

BNB Chain noted in its 2025 roadmap that it would "continue to support the meme ecosystem," which may have contributed to the BNB (BNB) token jumping to $724.70 earlier on Feb. 13.

While memecoins can be exciting and profitable, they also come with risks. Some turn out to be scam tokens, with developers often rug-pulling through various methods. Users are advised to be cautious when trading memecoins, as losses can happen quickly and abruptly.

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