CZ Sparks Memecoin Frenzy With Dog Picture: Four.Meme Starts Token Betting Event
Binance founder Changpeng Zhao, also known as CZ, has taken the crypto market by storm after sharing his dogs name and picture. The announcement sparked the launch of multiple tokens inspired by the pet and was further fueled by BNB Chains memecoin launchpads name-guessing contest.
CZ Sparks Memecoin Frenzy
On Wednesday, Changpeng Zhao acknowledged the cycles memecoin frenzy after an X user asked if he had a dog. The Binance founder revealed he had not a Shiba Inu, but a Belgian Malinois, which resulted in the crypto community asking for the name and picture of his dog.
CZ inquired about how it would work if he shared the information, asking if people would create memecoins based on the dog, how investors would know which one is the official token, and if it even mattered.
He joked he would mull whether to respect his privacy, or dox the dog for the cause, sparking massive speculation about an official memecoin launch.
On Thursday, CZ shared on X that he would officially share his dogs picture and name at 8:00 PM Dubai time, or 4:00 PM UTC, sending investors into a frenzy over the upcoming post.
Community members launched several tokens with the possible names of CZs four-legged companion, some reaching up to $60 million in market capitalization.
Arkham noted that the two frontrunner tokens on the BNB chain, BROWNIE, and PERRY, significantly surged on Thursday morning. Remarkably, an investor made over $1 million with less than a $12,000 initial in 12 hours.
Four.Meme Kicks-Off Token Event
BNB Chains token launchpad, Four.Meme joined the frenzy, announcing a CZ Dog Name Meme Token Betting Event. According to the X post, the tokens with the same then-unknown name of CZs dog would be part of a competition.
The tokens created today before 4:00 PM UTC would be eligible to participate and become the next big meme. The announcement detailed:
30 minutes after CZs post, the highest market cap token on Four.Meme wins! The winners token will have its tokens in LP revenue regularly burned by Four.Meme!
At 4:12 UTC, the Binance founder shared a picture with his dog, Broccoli. The dog was named after the vegetable because he wanted a name that started with B and has some green in it.
CZ wrote that he and Broccoli bonded over their difficulty socializing, adding that the dog helped him get a good break from the intense negotiations with the DOJ back then. He also stated that he never imagined his pet would be part of the blockchain ecosystem, adding that theres never a dull day in crypto.
Broccoli Immortalized In The BlockchainCZ clarified that he was just posting his dogs pictures and name and not issuing a memecoin himself. He considered it was up to the community whether to launch a token.
The BNB foundation may provide rewards for the top memes on the BNB Chain, giving LP support or other rewards, but the details are still being discussed.
After the Pet reveal, the tokens guessing Broccolis name plummeted, with the leading memecoin falling from a $22 million market cap to less than $1 million in less than a minute.
Meanwhile, the creation of memecoins inspired by CZ pets real name spiked, with several BNB Chain and Solana-based tokens flooding DexScreeners feed. At the time of writing, CZs Dog (BROCCOLI), launched a minute after Zhaos post, has become the largest gainer.
The memecoin reached a $300 million market capitalization minutes after being created and is currently trading at $0.0745, with a $75 million market cap. The winning token of the Four.Meme contest is yet to be announced.
Text source: NewsBTC
