Changpeng Zhao, ex-CEO of Binance and billionaire founder, sparked a memecoin race by sharing the name of his dog “Brocolli” with his X community.
The Crypto Founder who has long questioned the viability of Memecoins in the industry appears to have openly engaged with the memecoin community for the very first time.
CZ, as he is fondly called, laid the groundwork for a flurry of new dog-themed memecoins inspired by his dog “Brocolli.”.
The Chinese Canadian shared a thread on his X page, sharing the story of how he met his dog and providing personal details on the dog’s habits and age.
The Crypto Community read the story as a cryptic launch of a memecoin and responded by backing new dog-themed memecoins inspired by Brocolli.
Several memecoins have been launched since CZ announced them. The leading one among the pack is CZ’s Dog, with a market capitalization of $179 million.
Cryptic Memecoin Launch?
Changpeng Zhao announcing the name of his dog directly led to the launch of a memecoin without him actually endorsing one. The Ex Binance founder did not post any contact address or promote any project.
In a separate X post, Changpeng Zhao clarified that he did not create or endorse any memecoin.
However, he is quite aware that many memecoins would be created on his behalf as soon as he made the announcement, and he wants the best memecoin to win.
Changpeng Zhao’s approach to memecoin seems strategic and makes a lot of sense for his status. Elon Musk, the billionaire founder of Tesla, also applies a similar strategy by endorsing memecoins with cryptic messages that cannot be linked back to him.
In the early days of Dogecoin, Elon Musk was heavily involved in its promotion. This backfired when the memecoin lost about 80% of its value, and the Tech Billionaire was hit with a lawsuit.
Changpeng Zhao earlier stated that he doesn’t own any memecoin and doesn’t plan on getting one. The founder revealed he holds only Bitcoin and BNB.
