BROCCOLI: how meme coin linked to CZ blew up the crypto market

There are many reasons why meme coins are becoming popular. While some may show organic growth, others are due to an online trend that provides a sudden surge in popularity. The recently launched BROCCOLI meme coin is one such example. It has been in the news a lot lately due to its surge in market capitalization and association with Binance founder Changpeng Zhao, better known as CZ. In doing so, it has been the source of much online debate and controversy. We tell you the most interesting things about the BROCCOLI token, its connection with CZ, and the prospects of the project’s development.

Content

• The history of the BROCCOLI meme coin: key events and market impact
• How meme coins became popular and the role played by Changpeng Zhao
• How traders made millions on the BROCCOLI token
• Why was Changpeng Zhao criticized after the rise of BROCCOLI?
• Answers to common questions about the BROCCOLI meme token and its prospects

The history of the BROCCOLI meme coin: key events and market impact

How meme coins became popular and the role played by Changpeng Zhao

On X (formerly Twitter) on February 12, 2025, Changpeng Zhao addressed questions to followers about the mechanisms for launching and trading meme tokens. CZ subsequently claimed to understand their working principles and allowed for the possibility of interaction with certain meme coins in BNB Chain.

Source: X.com

On February 13, Zhao intrigued the community with the upcoming publication of his pet photo, which triggered the creation of numerous meme tokens, such as CZDOG, on the Base, BNB Chain, and Solana blockchains. A number of these tokens briefly reached a capitalization of several million dollars.

Three hours later, CZ presented photos of his dog named Broccoli, accompanying it with a short story about her. Zhao emphasized the lack of plans to issue his own meme coin but reiterated his willingness to interact with some tokens in the BNB Chain. He also hinted that the BNB Foundation may support developers of the most successful projects, without going into detail about specific forms of support. Zhao noted:

“I am just posting my dog’s picture and name. I am NOT issuing a meme coin myself. It’s up to the community to do that (or not). I will likely interact with a few of the more popular meme coins on BNB Chain (BSC).”

Almost instantly after the publication of CZ’s post with the dog’s name, a slew of new projects called Broccoli sprang up on the BNB network and decentralized crypto exchanges. According to DexScreener, three of these projects have reached a market capitalization of over $150 million each. Several other projects had capitalizations ranging from $8 million to $33 million. The total trading volume of various tokens exceeded $1 billion on February 13.

Amid increasing speculation and the rise of fraudulent cryptocurrencies, CZ has distanced itself from any projects, declaring its non-involvement with any meme token. At the same time, some users accused him of purposefully creating hype around BNB Chain to increase activity on the network. In response to the accusations, Zhao explained that his understanding of the meme coin launching process turned out to be flawed, as he believed that the process was under the control of the community. He reiterated his intention to attract more users to BNB Chain but emphasized that he had no plans to participate in the launch of any tokens.

How traders made millions on the BROCCOLI token

While many investors suffered losses, a small group of traders made substantial meme coin profits. According to blockchain analytics company Lookonchain, one trader capitalized on the hype and made nearly $28 million. He quickly bought some BROCCOLI, distributed them to different wallets and sold them at peak prices, making a huge profit.

Lookonchain also identified another opportunistic trader operating from wallet 0x392eb… who made a $7 million profit from the meme coin. The company indicated that this trader spent less than $1000 to create a token called “CZ’s Dog (Broccoli)” minutes after Zhao’s tweet.

Meanwhile, analyst Andre Cronje criticized the so-called “winners,” calling their actions outright theft rather than strategic trading. According to him, launching a meme coin just to capitalize on the pump&dump scheme should not be considered a legitimate profit. Cronje said such behavior illustrates the dark side of cryptocurrency speculation, where traders knowingly engage in high-risk transactions, often at the expense of others.

According to a number of observers, the emergence of BROCOLI may signal the start of a period of meme coin popularity on the BNB Chain. This is also supported by the recent hype surrounding the TST token. TST was originally created as a tool for a training video, but unexpectedly this “test” asset was added to the Binance listing and reached a peak capitalization of $460 million.

Why was Changpeng Zhao criticized after the rise of BROCCOLI?

The aftermath of the Broccoli token craze has led to a wave of criticism directed at Changpeng Zhao. Crypto experts and retail investors have expressed concern over his role in encouraging speculative behavior. A user with the nickname Hitesh.eth commented on X:

“I thought CZ transformed after coming from prison—became more spiritually aligned, more detached—but I don’t think that’s the case at all…He is just like us—someone who can’t take control of FOMO/FEAR.”

Crypto analyst, NonFungibleYash, expressed similar sentiments, noting the appeal of market emotion even among billionaires. He noted:

“CZ might have the edge, but at the end of the day, he’s playing the same psychological game as the rest of us.”

Source: X.com

Many in the crypto community have accused Zhao of manipulating market sentiment for financial gain. For some, the incident raises fears about Binance’s future, similar to the infamous FTX crash.

For some, CZ is also backing away from his commitment to focus on Giggle Academy, an initiative he started and pledged to focus on after his release from prison five months ago.

Answers to common questions about the BROCCOLI meme token and its prospects

1. Did Changpeng Zhao create or endorse any BROCCOLI meme coin?

No. CZ has publicly stated that he has not issued, endorsed, or supported any cryptocurrency associated with his dog’s name. Any token claiming Zhao endorses it is misleading to investors.

2. Why did several BROCCOLI projects suddenly appear?

The cryptocurrency community is very sensitive to trends and viral moments. When CZ announced that his dog’s name was Broccoli, developers and traders rushed to create meme coins to capitalize on the hype, hoping for quick profits. This is a common trend in the meme coin space.

3. Are BROCCOLI meme coins safe to invest in?

No investment is truly safe, and meme tokens are some of the riskiest assets. Many coins named after Zhao’s dog are created purely on hype and have no intrinsic value. Some are linked to pump-and-dump schemes, where early investors profit and late buyers suffer losses. There are also fraudulent coins posing as real projects to fool investors. Always research thoroughly before investing in any meme coin.