Life will come to you quickly. MemeCoin cycle…even faster.
This was a bloody Thursday GWEI at Mimecoin trench. The trend of the day was Changpeng Zhao’s dog. The former Binance CEO tweeted its name and photo at X, saying he knows well enough that simple acts will fuel opportunistic people and create Memecoin.
Many crypto personalities saw their dogs without knowing that they had turned into tokens. They rarely get involved in trends. The CZ was different. He promised to release the Alpha, but openly questioned how traders knew what Memecoin was the “official” token.
Never mind that. At 11:12am in New York, CZ revealed that there was a Belgian Marinoa named “broccoli.” In the same post, he vowed not to release his broccoli coins, but could also lend him some promotion when he teases him that he might trade successful coins.
There is no rich broccoli on Thursday.
By 11:15, token boobs carrying ticker broccoli were trading on BNB chains and Solana. Some of them soared out of the gates and appear to have reached a market capitalization of over billions of dollars as traders joked about the main coins. They crashed just as quickly as Victor never consolidated the bids.
The sudden spikes and immediate reversal underscored the dangers of playing in the unregulated, unmoralized Memocoin economy. There is no profit more than insiders.
Take a wallet that starts with 0x392eb. I spent less than $1,000 to create the token “CZ’s Dog (Broccoli)” right after CZ’s tweet. He awarded over 110 million assets at Mint, becoming a single large holder. Sales began in 2 minutes.
Just 20 minutes after launching Broccoli, 0x392eb dropped off the entire stack with a profit of $6.5 million. That selling pressure helped buyers rush into the token with their belief (or rather hopeless hope) that it would soar.
On Thursday, more than 30,000 buyers and sellers ran nearly 100,000 transactions. According to Dexscreener, some early actors earned millions, but the winner’s tail quickly diminished. The 100th most successful broccoli trader made a relatively small profit of $20,000.
Anyone who bought this broccoli in the first hour, the height of trends and the people who were held are reducing the big time. The token had a market capitalization of around $50 million at the time of pressing, well below that high.
0x392eb was unloading the broccoli as fast as possible, but CZ said:
“Let me win the best meme coins in the community,” he posted on X. He appears to have admitted in his post that this Memecoin Trading flavor is a big gamble.
What he didn’t admit in his post was that the deck was so piled up against the traders. When one trader simply creates it, sells it to himself, and makes millions of people by selling it, their profits are because they want others to be willing to buy. What creators are selling doesn’t create any more success for the coin.
What happened with 0x392eb’s broccoli was unfolded in a similar way to other tokens that CZ tried to attract attention that occurred, further highlighting that the disjointed efforts were unable to choose the winner.
Escade has generated numerous posts for X-Rumpning people who lost their money on broccoli. It also sparked a soulful quest for the depressed state of Memocoin trading.
