Quick Facts:
- Binance CEO CZ’s pet dog revelation led to the creation of multiple dog-themed meme coins.
- PancakeSwap, operating on Binance Smart Chain, surpassed Uniswap in DEX trading volume.
- The memecoin frenzy drove increased liquidity and user activity on BSC-based platforms.
Binance CEO Changpeng Zhao, popularly known as CZ, has inadvertently ignited a wave of memecoin mania after sharing details about his pet dog. This seemingly innocuous revelation has led to a flurry of activity within the crypto community, with numerous dog-themed memecoins emerging almost instantly.
The frenzy began when CZ posted an image of his dog on X, revealing that the dog’s name was Broccoli. Within moments of his post, crypto enthusiasts and developers seized the moment, launching various tokens inspired by the pet. countless meme coins under the ticker “BROCCOLI” flooded the market, with traders scrambling to capitalize on the hype.
This flurry of activity pushed PancakeSwap’s 24-hour trading volume past $3 billion, securing its spot as the leading decentralized exchange. Over the past week, PancakeSwap’s trading volume exceeded $21 billion, surpassing Uniswap and placing Raydium in third, according to DeFiLlama data.
The Memecoin Boom: How It All Started
The meme coin surge began with a simple question from an X user named Vee, who asked CZ if he had a pet dog. CZ responded, revealing that his pet is a Belgian Malinois, not a Shiba Inu. He promised to share a photo around 8 p.m. Dubai time on Thursday, and when the moment arrived, CZ delivered. Within minutes, a wave of “BROCCOLI” meme coins flooded the market, fueled by excitement and speculation.
This isn’t CZ’s first brush with memecoin mania. Earlier in the week, the BNB Chain team introduced the Test (TST) token, initially created as part of a tutorial on their Four.meme platform. Although never intended for public trading, CZ’s mention of TST on X sent its price soaring over 2,000%, leading to a Binance listing. After hitting an all-time high of $0.56, TST has since stabilized around $0.15,
CZ’s Changing Views on Memecoins and BNB Chain’s Bullish Momentum
Interestingly, CZ’s current playful involvement with memecoins contrasts with his earlier stance. In November, he voiced concern about the growing memecoin trend, noting on X that while he wasn’t against memes, the sheer volume of memecoins was becoming “a little” too eccentric.
I am not against memes, but meme coins are getting “a little” weird now.
Let’s build real applications using blockchain.” – He Posted
This surge in memecoin activity has also pushed up the price of BNB, the native token of Binance Smart Chain. BNB has gained 9% in the past 24 hours and over 21.5% in the last week, trading around $700, reflecting renewed market confidence in the Binance ecosystem. PancakeSwap’s native token, CAKE, has also seen explosive growth, surging 40% in a single day and more than doubling its value over the past week, trading at almost $3.
