Who Got Rich Off the Broccoli Memecoin Frenzy?

It only takes a casual tweet to ignite a trading frenzy in the unpredictable world of crypto. Changpeng "CZ" Zhao, the founder and former CEO of Binance, did exactly that when he revealed his dog’s name. 

The result? A flood of new Broccoli-themed memecoins, millions in trading volume, and a fresh reminder of the risks and rewards in the memecoin space.

Let’s break down what happened, who made millions, and what this craze says about the current state of crypto.

How a Tweet Started a Multi-Million Dollar Frenzy

It all began on February 13, when CZ casually mentioned on X (formerly Twitter) that he had a Belgian Malinois. This simple statement set off a wave of speculation among crypto traders, who immediately started creating memecoins based on potential dog names.

Sensing the buzz, CZ played along and gave a three-hour heads-up before revealing the name. During this window, traders rushed to buy CZ-related dog tokens, guessing names like CLEO, BROWNIE, and PERRY—some of which soared to multi-million-dollar market caps.

Then, CZ finally revealed his dog's name: Broccoli. That’s when things really went crazy.

The Birth of Broccoli Memecoins

Once CZ confirmed the name, hundreds of Broccoli-themed tokens appeared across multiple blockchain networks, primarily on:

• Solana’s Pump.fun – Over 480 Broccoli-related tokens were created.

• BNB Chain’s Four.Meme – More than 300 Broccoli tokens launched.

Meanwhile, BNB Chain’s meme coin launchpad Four.Meme crashed under the massive demand.

The question was no longer whether a Broccoli memecoin would pump—it was which one would dominate.

Who Profited from the Broccoli Craze?

As with most memecoin frenzies, the biggest winners were early movers and insiders.

Per CoinDesk, one wallet, 0x392eb, spent less than $1,000 to create a Broccoli token immediately after CZ’s tweet. The wallet then:

• Minted over 110 million tokens, making itself the largest holder.

• Started selling just two minutes later as buyers rushed in.

• Cashed out $6.5 million in profits within 20 minutes.

Meanwhile, everyday traders scrambled to buy in, hoping to catch a price surge. According to DEXScreener, in just two hours:

• The top Broccoli token hit a $400 million market cap before stabilizing around $74 million.

• Over 30,000 traders executed nearly 100,000 transactions.

• At least 11 wallets made over $1 million in profit.

However, many late buyers lost money as early investors dumped their holdings.

No "Official" Broccoli Token, Says CZ

With so many Broccoli coins flooding the market, traders searched for an "official" version. CZ quickly made it clear:

"I am just posting a photo of my dog and his name, as some of you requested. Let the best meme coin in the community win."

Despite the hype, CZ did not endorse any specific Broccoli token, making them all speculative plays with no real backing.

CZ’s tweet is just the latest example of memecoins dominating crypto speculation. The Broccoli craze follows:

• BNB Chain’s Test (TST) token, which surged 2,000% after CZ mentioned it.

• Solana memecoin mania, where projects like BONK and WIF gained traction.

• The continued rise of celebrity-inspired memecoins, from Elon Musk’s dog to Andrew Tate’s TopG coin.

Interestingly, CZ himself has expressed skepticism about memecoins in the past. Just months ago, he posted:

"I am not against memes, but meme coins are getting 'a little' weird now. Let's build real applications using blockchain."

The Risks of Chasing Memecoin Hype

The Broccoli mania highlights a critical reality in crypto: memecoins are a high-risk gamble. While a few traders made millions, many others lost big. The main risks include:

1. Insiders Win, Retail Traders Lose

The biggest profits often go to those who create the token and control supply. In this case, 0x392eb made $6.5 million, while late buyers were left with losses.

2. Extreme Volatility

Broccoli tokens rose and crashed within hours. If you bought at the peak, your investment likely dropped by 50% or more.

3. No Real Utility

Unlike established cryptos like Bitcoin or Ethereum, memecoins lack fundamentals. Their value is purely driven by hype and speculation.

4. Exchanges & Launchpads Can Crash

Demand for Broccoli coins was so high that Four.Meme went offline, preventing some traders from buying or selling.