Life comes to you fast. Memecoin cycles … even faster.
Such was the GWEI on a bloody Thursday in Memecoin’s trenches. The tendency of the day was Changpeng Zhao’s dog. The former Binance CEO said in X that he would tweet his name and photo, knowing very well that the simple act would feed opportunistic people to create memecoras.
Many cryptographic personalities have involuntarily seen their dogs turned into chips. They rarely commit, much less encourage, the trend. CZ was different. He promised to launch the Alfa, but openly questioned how merchants would know what Memecoin was the “official” token to buy.
That doesn’t matter. At 11:12 am New York time, CZ revealed that he had a Belgian Malinois called “broccoli.” In the same publication, he promised not to release his own broccoli currency, but mocked that he could exchange the success, and the BNB Foundation could also provide some promotion.
There would be no abundant broccoli on Thursday.
At 11:15, the lots of tokens that carried the broccoli ticket were quoted in the BNB and Solana chain. Some of them went out of the door, apparently reaching the market limits of more than one billion dollars when the merchants committed the predominant currency. Without an apparent victor that consolidates the offers, they collapsed with the same speed.
The sudden peak and the immediate reversal underlined the dangers of playing in the non -regulated memecoin economy, without law and moral -free. No one benefits more than experts.
Take the wallet that begins with 0x392EB. He spent less than $ 1000 to create the token “CZ’s dog (broccoli)” immediately after CZ tweet; More than 110 million of the asset was awarded in Mint, becoming its largest owner. Two minutes later it began to sell.
Just 20 minutes after the launch of the broccoli, 0x392eb had downloaded its full battery for $ 6.5 million in earnings. His sales pressure helped crush buyers who rushed to the belief card (or rather desperate) that he would only rise.
The Token saw more than 30,000 buyers and vendors on Thursday execute almost 100,000 transactions. Some first actors made millions, according to DexSCreener, but the tail of the winners quickly decreased. The most successful Broccoli merchant obtained a relatively insignificant gain of $ 20,000.
Anyone who bought this broccoli in its first hour, the height of fashion, and sustained, is big. The Token had a market capitalization of around $ 50 million at the time of publication, well below its maximums.
While 0x392eb was downloading his broccoli as fast as they could, CZ spoke:
“Let the best meme coin in the community win,” he published in X, reiterating once again that he would not personally choose a winner. Apparently he recognized in his publication that this taste of memecoros trade was a great bet.
What he did not recognize in his post was that the deck was so stacking against merchants. When a merchant wins millions in a currency simply creating it, giving it themselves and selling, their profits only arrive because other people are willing to buy. That the creator is selling tovers makes the success of the currency even more unlikely.
What happened with the 0x392EB broccoli developed similarly with other chips that tried to capture the attention that CZ generated, which stressed even more how the dismantled effort could not choose a winner.
The getaway generated dozens of positions in X ridiculing people who lost money in the broccoli. It also caused a search for the soul about the depressed state of Memecoin’s trade.
